find the simple interest on Rs.8000 invested at the rate of 10 p.c.p.a. in a scheme for 3 years.
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Answer:
P = Rs. 8000
t = 3 years
r = 10%
A = P (1+r/100)^t
= 8000 (1+10/100)^3
= 8000 (1+1/10)^3
= 8000 (11/10)^3
= 8000×1331/1000 = Rs.10648
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