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There is 60% increase in an amount in 5 years at simple interest.
What will be the compound interest of Rs. 10000 after 3 years at the same rate (compounded annually)?
Simple rate of interest = 60/5 = 12%
CI = [10000(1 + 0.12)^3] - 10000 = 4049.28
There is 40% increase in an amount in 8 years at simple interest. What will be the compound interest of Rs. 1,600 after 3 years at the same rate?
Arif took a loan of Rs 80000 from a bank.
If the rate of interest is 10% per annum.
Find the difference in amounts he would be paying after 1 1/2 years if the interest is compounded annually and compounded half yearly.
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