Question

the compound interest in the 4th year at 8 % p.a on Rs. 30000 is? ​

Answer 1

Step-by-step explanation:

time X rate X principal /100

=4 X 8 X 30000 /100

=9600

Answer 2

Answer:

compound interest = 10815

Step-by-step explanation:

Given principal amount P = 30000

Rate of compound interest r = 8%

                 time period t = 4 years

here we need to find compound interest

we know that formula for compound interest = $P(1+\frac{r}{100} )^{t} - P$  

                                                              = $30000(1+\frac{8}{100} )^{4} - 30000$

                                                              = $30000( \frac{108}{100} )^{4} - 30000$  

                                                              = 30000(1.08)⁴ - 30000

                                                              = 30000 [ 1.3605-1]  

                                                              = 30000 [ 0.3605 ] = 10815