Question

1. Find the compound interest on 10,000
at 4% per annum for 3 years compounded
annually.​

Answer 1

Answer:

Rs. 3310

Step-by-step explanation:

Given:

Present value =₹ 10000

Interest rate =10% per annum

Time =3 years

To find the amount we have the formula,

Amount (A)=P(1+(r/100))

n

where P is present value, r is rate of interest, n is time in years

Now substituting the values in above formula we get,

∴A=10000(1+10/100)

⇒A=10000(11/10)

⇒A=121(10)(11)

⇒A=1331(10)

⇒A=₹ 13310

∴ Compound interest =A–P

=13310–10000=₹ 3310

Answer 2

Principal=10,000

Rate=4%

Time=3years

Amount=P(1+R/100)^n

=10,000(1+12/100)^3

=10,000(25+3/25)^3

=10,000(28/29)^3

=10,000×28/25×28/25×28/25

=14049.28

Compound Interest=Amount-Principal

=14049.28-10,000

=4049.28