Question
What will be the CI on a sum
of Rs.50,000 after 3 years at the rate of 11%p.a?Solution
CI = P[1+ R/100]t - P CI = 50000[1+ 11/100]3 - 50000 CI = 50000 [ 111/100]3 - 50000 CI = 50000 × 111/100 × 111/100 111/100 - 50000 = 68381.55 - 50000 = 18381.55
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