Question
What will be the compound interest on a sum of Rs 22,000
after 3 years at the rate of 6 percent per annum?Solution
A = P ( 1 + R/100 ) T A = 22,000 (1 + 6/100)3 A = 22000 X 1.06 X 1.06 X 1.06 = ₹26,202.35 CI = A - P CI = ₹26,202.35 - 22000 = 4202.35
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