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(1+R/100)^N
A=10000(1+10/100)³
A=10000(1+1/10)³
A=10000(10/10+1/10)³
A=10000(11/10)³
A=10000×11/10×11/10×11/10
A=13,310 rupees
C.I=A - P
=13,310 - 10,000
=3,310 rupees
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