Q. 10 Find compound interest if principal = 8000,
rate = 15% and time = 3 years.
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Answer:
Here, P= Rs. 8000,R=10% per annum and n=3 years
Using the formula, A=P(1+
100
R
)
n
Amount after 3 years =8000×(1+
100
10
)
3
=8000×
10
11
×
10
11
×
10
11
=10648
Thus, amount after 3 years = Rs. 1648.
And compound interest = Rs. (10648−8000)=2648.
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