If the principal of Rs. 8000 at the rate of 5% per annum. Compounded a

1.	If the principal of Rs. 8000 at the rate of 5% per annum. Compounded annually for 3 years. Find the compound interest.1. Rs. 33102. Rs. 80003. Rs. 92614. Rs. 1261
Answer» Correct Answer - Option 4 : Rs. 1261 Given: Principal = Rs. 8000 Rate = 5% Time = 3 years. Formula used: C.I = P[(1 + R/100)N – 1] Calculation: C.I = P[(1 + R/100)^N – 1] ⇒ C.I = 8000[(1 + 5/100)³ – 1] ⇒ C.I = 8000 × [(21/20)³ – 1] ⇒ C.I = 8000 × [(9261 – 8000)/8000] ⇒ C.I = (8000 × 1261/8000) ⇒ C.I = Rs. 1261 ∴ The compound interest is Rs. 1261

If the principal of Rs. 8000 at the rate of 5% per annum. Compounded annually for 3 years. Find the compound interest.1. Rs. 33102. Rs. 80003. Rs. 92614. Rs. 1261

Answer» Correct Answer - Option 4 : Rs. 1261

Given:

Principal = Rs. 8000

Rate = 5%

Time = 3 years.

Formula used:

C.I = P[(1 + R/100)N – 1]

Calculation:

C.I = P[(1 + R/100)^N – 1]

⇒ C.I = 8000[(1 + 5/100)³ – 1]

⇒ C.I = 8000 × [(21/20)³ – 1]

⇒ C.I = 8000 × [(9261 – 8000)/8000]

⇒ C.I = (8000 × 1261/8000)

⇒ C.I = Rs. 1261

∴ The compound interest is Rs. 1261

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If the principal of Rs. 8000 at the rate of 5% per annum. Compounded annually for 3 years. Find the compound interest.1. Rs. 33102. Rs. 80003. Rs. 92614. Rs. 1261

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