Question

1. A sum of $2000 is deposited at an interest
rate of 5% pa. for 3 years, compounded
yearly. Find​

Answer 1

Step-by-step explanation:

S.I = P× R× × T/ 100

S I = 2000 × 5 × 3/ 100

= 20 × 15

= 300

Answer 2

A = P ( 1 + R / 100 ) ^ T
= 2000 ( 1 + 5 / 100 ) ^ 3
= 2000 ( 105 / 100 ) ^ 3
= 2000 * 105 / 100 * 105 / 100 * 105 / 100
= 2315.25

So C.I is 2315.25 - 2000
= 315.25 $ ( ANS )