Question: QUESTION NO:3 a. AED 1400 amounts to AED 1820 in 5 years at a certain rate of Si. If the rate is increased by 3%,

QUESTION NO:3 a. AED 1400 amounts to AED 1820 in 5 years at a certain rate of Si. If the rate is increased by 3%, it would amount to how much. (05 Marks) b. The sum of money that will give $4 as interest per day at 5% pa simple interest is. (03 Marks) c. A sum of $ 12,000 is equally divided and invested at two different rates of interest. The difference between the interests got after 4 years is $ 360. What is the difference between the rate of interest. (05 Marks) d. Explain credit creation with the help of an example. (07 Marks)

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