to renovate his shop, anurag obtained loan of ₹8000 from a bank if the rate of interest at 5% per annum compounded annually calculate the compound interest that anurag have to pay
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here we should calculate the loan and percent it will be 8000×5%=400
now we should calculate anum and answer we got 1 annum=12 months then 400×12=4800
the answer we got is 4800
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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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