Question

4. Find the amount and compound interest
60,000 at 15% for 3 years.
on​

Answer 1

➤ Given :-

Principle (P) :- ₹ 60000

Rate of interest (R) :- 15%

Time (T) :- 3 years

➤ To Find :-

Compound interest on the given sum..............

➤ Formula :-

$\bf \orange {\bigstar \: {\underline {\underline {P \times R \times T \div 100 + P }}}}$

➤ Solution :-

$\dashrightarrow \sf \frac{60000 \times 15 \times 3}{100} + 60000$

$\dashrightarrow \sf \frac{ \cancel{60000} \times 15 \times 3}{ \cancel{100}} = 600 \times 15 \times 3$

$\dashrightarrow \sf600 \times 15 \times 3 + 60000$

$\dashrightarrow \sf27000 + 60000$

$\dashrightarrow \sf87000$

$\Huge\therefore$The compound interest is ₹ 87000.