(b) A invested Rs 4500 for 3 years at the rate of 8% annual compound interest and B invested the same amount for same time at the rate of per month per rupee 1 paisa simple interest. Calculate (1) The interest received by A. (ii) The interest received by B.
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Answer:
Given,
Rate =
100
5
×100=5%
S.I.=
100
PRT
=
100
4500×5×2
=450Rs.
A=P+SI=4500+450=4950 Rs.
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