Question

Find the compound interest on a sum of 8000 for 3 years at the rate of 5% p.a.
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Answer 1

Here, P = $ 8000, R = 5 % per annum and n = 3 years. = $ 9261. Thus, amount after 3 years = $ 9261. Therefore, compound interest = $ 1261.

Step-by-step explanation:

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