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Compound Interest Important Formulas:
1. Let Principal = P, Rate = R% per annum, Time = n years.
2. When interest is compound Annually:
Amount = P (1 +R/100)n3
.When interest is compounded Half-yearly:
Amount =P (1 +(R/2)/100)2n4
.When interest is compounded Quarterly:
Amount =P (1 +(R/4)/100)4n5
.When interest is compounded Annually but time is in fraction, say 3 years.
Amount = P (1 +R/100)3 x [1 +(2/5 R)/100)]6
.When Rates are different for different years, say R1
% for 1st, 2nd and 3rd year respectively.
Amount = P (1 +R1 /100 )(1 +R2 /100 )(1 +R3 /100 )7
.Present worth of Rs. x due n years hence is given by:
Present Worth = x /(1 + R/100 )Read more:
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