What would be the compound interest obtained on an amount of Rs 20,000 at the rate of 15 p.c.p.a. after 4 years?
Question
What would be the compound interest obtained on an amount of Rs 20,000 at the rate of 15 p.c.p.a. after 4 years?
By using compound interest formulae
=> 1 = 20000{(23/20)^4 - 1} = 14,980.125
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