12000 amounts to rupees 15972 in three years what is the compound interest per annum
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Answer:
We know that the amount A at the end of n years at the rate of R % per annum when the interest is compounded annually is given by A=P(1+
100
R
)
n
Here P = Rs.12000 R = 10% per annum and n = 3
∴ Amount after 3 years = P(1+
100
R
)
3
=Rs.12000×(1+
100
10
)
3
=Rs.12000×(1+
10
1
)
3
=Rs.12000×(
10
11
)
3
=Rs.12000×
10
11
×
10
11
×
10
11
=Rs.(12×11×11×11)=Rs.15972
Now Compound interest = A - P ⇒ Compound interest = Rs. 15972 - Rs.12000 = Rs. 3972
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