Question
What will be the CI on a sum of Rs.70,000 after 3 years
at the rate of 8%p.a?Solution
CI = P[1+ R/100]t - P CI = 70000[1+ 8/100]3 - 70000 CI = 70000 [ 108/100]3 - 70000 CI = 70000 × 108/100 × 108/100 × 108/100 - 70000 = 88179.84 - 70000 = 18179.84
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