Question

8. What will be a loan of ₹15, 000 amount to in 3 years if compounded annually at the rate of 10% p.a.?

Answer 1

Principal- 15000
rate- 10%
time-3 years

amount= principal(1+rate/100)^time
A= 15000(1+10/100)^3
A=15000(100+10/100)^3
A=15000(110/100)^3
A=15000(11/10)^3
A=15000*1331/1000
A=15*1331
A=Rs.19965

Compound Interest- Amount-Prncipal= 19965-15000
                                                               = RS.4965

the loan will amount to Rs.19965

Answer 2

15,000(1+10/)rase to power 3
equal to19,96,50,000