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Maria invested Rs 8,000 in a business. S...

Maria invested Rs 8,000 in a business. She would be paid interest at 5% per annum compounded annually. Find
(i)The amount credited against her name at the end of the second year.
(ii)The interest for the 3rd year.

Text Solution

AI Generated Solution

To solve the problem step-by-step, we will use the formula for compound interest and calculate the required amounts. ### Given: - Principal (P) = Rs 8,000 - Rate of interest (R) = 5% per annum - Time (N) = 2 years for part (i), and 3 years for part (ii) ### Part (i): Find the amount credited at the end of the second year. ...
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