Question

22. Find the compound interest if préncipal =rs5000
Rate=8% per annum and time = 3 years.​

Answer 1

Answer:

this is the answer dear

Answer 2

Solution: Principal for the first year = Rs. 5000

Interest for the first year = Rs 5000×8×1/100 =rs.400

[We are using the formula S.I.= rs p×r×t/100]

therefore amount at the end of first year = Rs.5000+ Rs. 400= Rs. 5400

Interest for the second year = rs 5400×8×1/100 =rs.432

therefore amount at the end of second year = Rs.5400+432=5832

Interest for the third year = rs 5832×8×1/100 =rs.466.56

Principal of the third year was Rs. 5832 and so amount at the end of the third year = Rs. 5832+466.56=6298.56

So, Compound interest= Rs. (6298 – 50000) = Rs. 1298.56