Question

* 7. Calculate the amount and the C.I. on Rs. 10000 at 10%p.a. for 3 years (1) Amount ? ​

Answer 1

Answer:

1

Step-by-step explanation:

The compound interest on ₹ 10000 at 10 % per annum for 3 years, compounded annually, is

Answer 2

Given :

Principle : ₹10000

Rate of interest : 10%

Time : 3 years

To find :

The amount and the compound interest.

Solution :

First, we'll find the amount.

$\sf \dashrightarrow Amount = Principle \bigg( 1 + \dfrac{Rate}{100} \bigg)^{Time}$

$\sf \dashrightarrow 10000 \bigg( 1 + \dfrac{10}{100} \bigg)^{3}$

$\sf \dashrightarrow 10000 \bigg( 1 + \dfrac{1}{10} \bigg)^{3}$

$\sf \dashrightarrow 10000 \bigg( \dfrac{10 + 1}{10} \bigg)^{3}$

$\sf \dashrightarrow 10000 \bigg( \dfrac{11}{10} \bigg)^{3}$

$\sf \dashrightarrow 10000 \bigg( \dfrac{11^3}{10^3} \bigg)$

$\sf \dashrightarrow 10000 \bigg( \dfrac{1331}{1000} \bigg)$

$\sf \dashrightarrow \dfrac{10000 \times 1331}{1000} = \dfrac{13310000}{1000}$

$\sf \dashrightarrow \cancel \dfrac{13310000}{1000} = 13310$

Now, we can find the compound interest.

Compound interest :

$\sf \dashrightarrow Amount - Principle$

$\sf \dashrightarrow 13310 - 10000$

$\dashrightarrow$₹$\sf 3310$

Hence, the amount and compound interest are ₹13310 and ₹3310 respectively.