To renovate his shop, Anurag obtained a loan of rs. 8000. If the rate of interest at 5 percent per annum is compounded annually, calculate the compound interest that Anurag has to pay after 3 years
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Answered by
7
= 8000 (1 + 5/100)^3
= 8000 × 105/100 × 105/100 × 105/100
= 21^3
= 9261 rupee
Answered by
10
Answer:
The compound interest that Anurag will have to pay is Rs 1261.
Step-by-step explanation:
Referred to the attachment.
Attachments:
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