Maria invested Rs 8,000 in a business. She would be paid interest at 5% per annum compounded annually. Which among the following is the amount credited against her name at the end of the second year.
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Step-by-step explanation:
P =RS 8,000
Rate of interest % =5%
I = P *R *T /100
8,000 *5*2/100
8,000Rs
total amount= P + I
= 8,000 + 8,000
=16,000
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