Question

Ahola Friends
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Q:-Find the amount and compound interest on rupees 650000 at the rate of 6% p. a. compounded annually for 3 years.
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Easy question (^_<)
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Answer 1

Solutions :-



We have,

Principle = 650000
Rate = 6% p.a.
Time = 3 years.


Now,
Find the Amount :-

A = p(1 + r)^t
= 650000 (1 + 6%)³
= 650000(1 + 0.06)³
= 650000(1.06)³
= 650000 × 1.191016
= 774160.4

So, Amount = Rs 774160.4

Find the compound Interest :-

C.I = A - p
= Rs (774160.4 - 650000)
= 124160.4



Answer : Amount = Rs 774160.4
Compound Interest = Rs 124160.4

Answer 2

Solutions :-


Some of the abbreviations used in this solutions are :-

Principle = p
Rate = r
Time = t
Amount = A
Compound Interest = C.I


Given :

Principle = 650000
Rate = 6% p.a.
Time = 3 years.


Find the Amount :-

We know the formula
A = p(1 + r)^t

= Rs 650000 (1 + 6%)³
= Rs 650000(1 + 0.06)³
= Rs 650000(1.06)³
= Rs 650000 × 1.191016
= Rs 774160.4

We get,
Amount = Rs 774160.40




Now,
Find the compound Interest :-

C.I = A - p
= Rs (774160.4 - 650000)
= Rs 124160.4



Hence,
Amount is Rs 774160.4
And Compound Interest is Rs 124160.4