Question

find the compound interest for rupees 48000 for 1.5 years at the rate of 8 pcpa

Answer 1

This is the answer for the given question

Answer 2

The compound interest for rupees 48000 for 1.5 years at the rate of 8 pcpa is Rs.5873.708

Step-by-step explanation:

Principal = Rs.48000

Rate of interest = 8%

Time = 1.5 years

Formula : A=P(1+r)^t

A= Amount

P = Principal

r = rate of interest

t = time

Substitute the values in the formula :

A=48000(1+0.08)^{1.5}

A=53873.708

Compound interest =Amount - Principal = 53873.708 - 48000 = Rs.5873.708

Hence the compound interest for rupees 48000 for 1.5 years at the rate of 8 pcpa is Rs.5873.708

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