Question

find the compound interest rs 48000 for 1 year at ⁸% pa​

Answer 1

Step-by-step explanation:

Let compound interest be C.I. , Principal be P, rate be r, time be t .

Here P = 48000 ; r = 8% ; n = 2 and t = 1

then,C.I. = P(1+r)^n - P

=48000 (1+8/100)^1 - 48000

=48000 (1×100 + 1×8/100) - 48000

=48000 (100 + 8/100) - 48000

=48000 × 108/100 - 48000

=51840 - 48000

=3840

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