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If P is the principal, R is the rate of ...

If P is the principal, R is the rate of interest per annum and n is the time period, find the amount at the end of the nth year if the interest is compounded yearly.

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Formula 1 Let P be the principal and the rate of interest be R% per annum.If the interest is compunded anually then the amount A and the compound interest C.I.at the end of n years are given by nA=P(1+(R)/(100))^(n) and C.I.=A-P=P{(1+(R)/(100))^(n)-1} respectively.

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