8. Find the compound interest payable after certain years

Ajith gets a loan of \(₹\) 50944 against his fixed deposits. If the rate of interest is 8.8 paise per rupees per annum, then calculate the compound interest payable after 3years compounded yearly. (Use: ${1.088}^3$$\approx$ 1.29)

 

Answer:

 

The compound interest payable after 3 years \(=\) \(₹\).

 

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