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A person invests Rs. 5000 for two years at a certain rate of interest compounded annually. At the end of one year, this sum amounts to Rs. 5600. Calculate: (i) the rate of interest per year. (ii) the amount at the end of the second year. |
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Answer» A person invests Rs. 5000 for two years at a certain rate of interest compounded annually. At the end of one year, this sum amounts to Rs. 5600. Calculate: (i) the rate of interest per year. (ii) the amount at the end of the second year. |
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