Rs 10,000 is invested at 5%interest rate p.a. Find the amount paid of the end of 3 year.
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Answer:
for 3 years interest of Rs 10,000 at the rate of 5% p.a is 10,000×3×5/100Rs=1500Rs
the amount paid at the end of 3 years is
(10,000+1500)Rs=11,500Rs
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