4 Sonam borrowed a sum of 1000 from Rashi for 3 years. If the rate of interest is 10% per annum compounded annually, find the amount paid by him at the end of 3 years.
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compound for 3 years at the rate of 10℅ per annum compounded will be grater than simple interest but if you ask for 1 year it will be same because the interest added in a year in simple will not be compounded so both are same Ok
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