The compound interest on Rs 8,000 at 5 percent annum for 3 yrs,compounded annually is
a)1225
b)1236
c)1248
d)1261
Answers
Answered by
1
Answer:
1261
Step-by-step explanation:
Answered by
0
Answer: option(d)
compound interest (CI)=1261
Step-by-step explanation:
By using formula
CI=P [(1+i)^n-1 ]
Let P=8000;i=5/100; n=3 years
compounded annually
CI= 8000[(1+0.05)^3-1]
= 8000[(1.05)^3-1]
=8000[1.157625-1]
=8000 [0.157625]
=1261
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