Sunil borrowed Rs 8000 from his friend for 3 years at the rate 5% per annum compound interest. What amount will Sunil pay after 3 years if the interest is compound annually?
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amount needed to pay=8000(1- 5/100)^3
=8000(1- 1/20)^3
=8000×21/20x21/20x21/20
=21×21×21
=9261
=8000(1- 1/20)^3
=8000×21/20x21/20x21/20
=21×21×21
=9261
Xxxd900X:
That is wrong. You have to do it step by step
And the answer is 1261
he asked for amount not compound intrest
the amount needed to be paid is 9261
check the question
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