Question

Ravish took 8000 from Bank find the compound interest paid by him after 1 year if the rate of interest is 3% per annum?​

Answer 1

Answer:compound interest for one year = simple interest for 1 year

interest = (p × r× t)/100

=(8000 × 3x 1) / 100

=24000 / 100

= 240

therefore rupees 240

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