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A Sum of Rs. 65000 is Invested for 3 Years at 8 % P.A. Compound Interest.

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Question

A sum of Rs. 65000 is invested for 3 years at 8 % p.a. compound interest.

Find the compound interest earned in the last year.

Sum
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Solution

`"C"_3 = (75816 xx 8 xx 1)/100` = 6065.28

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Concept of Compound Interest - Compound Interest as a Repeated Simple Interest Computation with a Growing Principal
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