Question

11 Find the amount and compound interest in the following cases.
Principal (in rupees)=1000
Rate p.a.=5%
Time (years)=3
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Answer 1

A=1157.625 rs

CI=157.625 rs

Step-by-step explanation:

A=P(1+R/100)^N

A=1000×105×105×105/1000000

A=1157.625 rs

CI=A-P=1157.625-1000=157.625 rs