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The compound interest on Rs. 12,000 for 10 years at the rate of 12% per annum compounded annually is ?
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- 25350
- 23550
- 2550
- 25550
Correct Option: A
∵ A = 12,000(1 + 12/100)10
= 12000(28/25)10
⇒ log A = log 12000 + 10[log 28 - log 25]
⇒ log A = 4.0792 + 10(1.4472 - 1.3979)
= 4.0792 + 0.493
= 4.5722
∴ A = antilog 4.5722 = 37342
C.I. = 37342 - 12000 = 25342
=25350
