if rs 10000 has been lent out at 10% rate of interest for 3 years the interest being compounded annually what is the interest for the third year
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A: p (I +r/100) 2 = 10000 x (I110/100)^2 = Rs.12100 for 2 yrs
12100x110/100 = Rs 13310 for 3rd yr
Interest for 3rd your = Rs 1210
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