Question

Rita borrowed Rs. 20,000 for 3 years at 10% per annum compound interest.

Calculate the interest paid by her for the second year.​

Answer 1

Answer:

Simple Interest

Interest is the extra money paid by institutions like banks or post offices on money deposited (kept) with them. Interest is also paid by people when they borrow money.

Step-by-step explanation:

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Answer 2

Answer:

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