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Question -

Maria invested ₹ 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 third year.



Answer -

(i) Given: P = ₹ 8,000, R = 5% p.a.
and n = 2 years

Hence, interest for the third year = ₹ 441

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