) P= 8,000 ; r = 5% p.a.; n = 3 years find compound interest please answer me fasr
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Answer:
A=P(1+r)^n
A=8000(1+0.05)^3
A=8000×1.05×1.05×1.05
A=9261
Compound interest= A-P
Compound Interest=9261-8000=1261 Rupees
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