Question
For a compound interested sum which of the following details are necessary?
Answer: Option A
:
A, B, and D
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A, B, and D
For a sum whose interest is calculated by compounding, the following things need to be defined:
-Principal
-Rate of interest
-Conversion periods (annual, half-yearly)
The time taken to return the loan is not fixed. Based on the time taken and the other fixed details above, the final interest is calculated.
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