Question

To renovate his shop, Anurag obtained a loan of
8000 from a bank. If the rate of interest at 5%
per annum is compounded annually, calculate the
compound interest that Anurag will have to pay
after 3 years.
​

Answer 1

Answer:

Principal = 8000/-

Rate = 5%

Time = 3 years...

Amount = P * ( 1 + R/100) ^t

8000 * ( 1 + 5/100) ^ 3

8000 * (105/100) ^3

8000 * 1.05 * 1.05 * 1.05 = 9261

CI = 9261 - 8000 = 1261

Answer 2

answer is 1261 mark me brainliest