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Sticky Note
If someone invests Rs. 20,000 at 10% compound interest per year, what will be the interest after 3 years?
  1. Rs. 6,620
  2. Rs. 6,000
  3. Rs. 6,200
  4. Rs. 6,500
Explanation
Principal = Rs. 20,000
Rate = 10% per year
Time = 3 years
Amount = 20000(1.10)^3 = 26620
Interest = 26620-20000 = 6620

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