find the interest paid by borrowers after a period of three years on a loan rupees at 2000 at 10percent per annum interest being compounded annually
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Step-by-step explanation:
Amount=2000*(1+10/100)^3
=2000*110/100*110/100*110/100
=2000*1.1*1.1*1.1
=2662
interest paid=(2662-2000)
=662
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