Q2 of 52 Page 112

Let us calculate the amount of ₹5000 at the rate of 8% compound interest per annum for 3 years.

We know that amount after 3 years


Where p = principal, r = rate of interest and n = time = 3 years


From given, p = ₹5000 and r = 8%


So, the amount after 3 years



= ₹6298.56


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