# ]7    Maria invested Rs 8,000 in a business. She would be paid interest at 5% per annum compounded annually. Find          (ii) The interest for the 3rd year.

Now, The amount after 2nd year will become the principal amount for the 3rd year

Principal amount, P = Rs 8,820

Compound rate of interest, R = 5% p.a.

Time period, n' = 1 year

Therefore, the interest for the 3rd year is Rs 441.

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