please solve this question
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Compound interest and simple intrest are same for first year so we can solve this question as simple interest question.
Interest=(principal×rate×time)/100
=>(16000×5×1)/100
Interest=800rs
You can also solve by compound interest formula.
Interest=(principal×rate×time)/100
=>(16000×5×1)/100
Interest=800rs
You can also solve by compound interest formula.
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