Calculate the compound interest for the second year on 6000 invested for 3 years at
10% p.a. Also find the sum due at the end of third year.
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Answer:
C.I = Rs.1986 , Amount = Rs.7986
Step-by-step explanation:
Principal = 6000
Rate of interest = 10%
Time = 3 years
Amount = P[1 + r/100]^n = 6000[1 + 10/100] ^3
= 6000 x 11/10 x 11/10 x 11/10
= Rs.7986
C.I = A - P = 7986 - 6000
= Rs.1986
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