Question

(4) Find the compound interest on 10,000 for 3 years at 7% per annum​

Answer 1

For Ist yearPrincipal (P) = Rs. 10,000Rate (R) = 8%Time (T) = 1 year

∴ Interest = (10,000 × 8 × 1)/100 = 100 × 8 = Rs. 800

For 2nd yearP = Rs. 10,000 + Rs. 800 = Rs. 10,800Rate (R) = 8%Time (T) = 1 Year

∴ Interest = (10,800 × 8 × 1)/100 = 108 × 8 = Rs. 864

For 3rd year∴ P = Rs. 10,800 + Rs. 864 = Rs. 11664,R = 8%T = 1 Year

∴ Interest = (11664 × 8 × 1)/100 = (11664 × 2)/25= Rs. 933.12

∴ Amount = Rs. 11664 + 933.12 = Rs. 12597.12

Hence required amount = Rs. 12597.12∴ Compound interest=

Rs. 12597.12 – 10000 = Rs. 2597 . 12

Answer 2

Answer:-

Principal (P) = Rs.10000

Rate (R) = 7%

time = 3 years

therefore , Interest = 10000×7×3÷100=100×21 =2100