Question

A person hoteles a sum of ₹ 64,000 from a bank at the rate of 2.5 % per anjum compound es annually. Find the amount and CI payable after 3 years.​

Answer 1

Answer:

The amount will be 68921  and Compound interest will be 4921 Rupees payable after 3 years.​

Step-by-step explanation:

Given,

         Principle, P=₹ 64,000

         Interest Rate, R=2.5 %

        Time duration=3 years

Amount

                $A=P(1+\frac{R}{100})^t\\ \\ A=P(1+\frac{5}{200})^3\\ \\ A=64000(1+\frac{1}{40})^3\\ \\ A=64000(\frac{40+1}{40})^3\\ \\ A=64000(\frac{68921}{64000} )\\ \\ A=68921$

Compound Interest = Amount-principle

                                  =68921-64000

                                   =4921