Question

12. Calculate the amount and the compound interest by using
the formula for compound interest if the
principal = 1100rs,
R = 10 p.a.
time is 3 years.​

Answer 1

Answer:

Principal (P) = Rs.1100

Rate (R) = 10% p.a.

Time (n) = 3 years

Amount (A) = P (1 + R/100)ⁿ

=> A = 1100 (1 + 10/100)³

=> A = 1100 (11/10)³

=> A = Rs.1464.10

Compound Interest = Rs.(1464.10-1100) = Rs.364.10