The compound interest for the second year on rs.4000 invtested for 3 years at 10%per annum is
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Answer:
CI = Rs.1324
Step-by-step explanation:
Principal (P) = Rs.4000
Rate (R) = 10%
Time (n) = 3 years
Amount (A) = P(1 + r/100)^n
= 4000 (1 + 10/100)³
= 4000 (110/100)³
= 4000 × 110/100 × 110/100 × 110/100
= Rs.5324
Compound interest (CI) = Rs.(Amount - Principal)
= Rs.(5324 - 4000)
= Rs.1324
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