Ravish took rupees 8000 from bank. Find the compound interest paid by him after 1 year, if the rate of interest is 3% per annum
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I wish I could answer u but yeah I m also confused u can ask questions of any subject but not this one
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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
I hope this helps
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