Find the amount of Rs 2400 after 3 years, when the interest is compounded annually at the rate of 20% per annum.

Explanation

To find the amount of Rs 2400 after 3 years when the interest is compounded annually at the rate of 20% per annum, we can follow these steps:

### Step 1: Identify the values
- Principal (P) = Rs 2400
- Rate of interest (R) = 20% per annum
- Time (T) = 3 years

### Step 2: Convert the rate of interest into decimal form
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