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प्रश्न
Calculate the compound interest for the second year on ₹ 8,000/- invested for 3 years at 10% per annum.
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उत्तर
Given:
Principal (P) = ₹ 8,000
Rate (R) = 10% per annum
Time = 3 years
To find the compound interest for the second year:
Interest for the 1st year
= `(8000 xx 10 xx 1)/100`
= ₹ 800
Amount at the beginning of the 2nd year
= ₹ 8,000 + ₹ 800
= ₹ 8,800
Compound Interest for the 2nd year
= `(8800 xx 10 xx 1)/100`
= ₹ 880
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