Question

A man deposited rupees 8000 in a bank for 3 years at 5% per annum compound interest how much amount will he get after 3 year

Answer 1

Given : P=8000 rupees

Number of year = 3 years

Rate of interest = 5 %

Compound interest = ?

Solution

Compound interest = A - P

Amount =P (1+R/100) 3

=8000(1+5/100)3

=8000(1+1/20)3

=8000(1×20/1+20+1/20)3

=8000(20/20+1/20)3

=8000(20+1/20)3

=8000(21/20)3

=8000×21/20×21/20×21/20

= 8000×9261/8000

both the side 8000 cut

=9261

Amount = 9261 rupees

Compound Interest= A - P

=9261-8000

=1261

Compound Interest= 1261 rupees

Answer 2

He will get Rs.9261 after 3 years

Step-by-step explanation:

Principal = Rs.8000

Rate of interest = 5% =0.05

Time = 3 years

Formula : $A=P(1+r)^t$

A = Amount

P = Principal

t = time

r = rate of interest

$A=8000(1+0.05)^3$

A=Rs.9261

Hence He will get Rs.9261 after 3 years

#Learn more:

Find the amount and the compound interest on rupees 8000 at 5% per annum for 2 years compounded annually

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