Calculate the compound interest — task. Maths CBSE Homework Assignments, Class 8.

Determine the compound interest on \(₹\)2540 for 4 years at the rate of 3\(\%\) per annum compounded yearly. (Use:

{(1.03)}^{4}

\approx

1.13)

Answer:

The compound interest \(=\) \(₹\).

[Note: Submit the answer as a whole number.]

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1. Calculate the compound interest