A man interest rupees 7000 for 3 years at a certain rate of interest , compounded annually at the end of one Year IT amount rupay 7980 , calculate (i) he rate of interest per annum (ii) the interest a crued in the second year (iii) the amount of the end of the third year
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Answer:
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Explanation:
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Answer:
interest=
100
p∗r∗t
p = principal amount , r = rate , t = time
interest=
100
7000∗3.5∗2
interest = RS. 490
total amount = interest+ principal amount
= 7000+490= Rs 7490
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