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Rs 1000 is being nbsp charged at 50 per annum what is the interest for 3rd year at compound interest......

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Quant ( MASTER) Compound Interest Add to Study Deck

Rs 1000 is being  charged at 50% per annum. what is the interest for 3rd year at compound interest?

Explanation:

Total amount for two years =  1000×(1.5)2 = 2250

Now, interest for third year = 2250 x 50 x 1 /100 = 1125

Hence, option 3 is the correct answer.

By: Amit Kumar
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