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प्रश्न
Compound interest is the interest calculated on the previous year’s amount.
विकल्प
True
False
उत्तर
This statement is True.
Explanation:
Compound interest, Cl = A – P
Where, `A = P[1 + R/100]^n`
Here, P = Principal on previous year’s amount and A = Present year’s amount R = Rate of interest and n = Time
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