Question

an investment of 10,000is made for 3years at 10% per annum ,find the amount recieved at the end of 3years in case of 1) Compound interest 2)simple interest​

Answer 1

P = Principal amount = 10000

R = Rate = 10%

T= Time period = 3 yrs

Simple interest :-

(PRT / 100) + P

(10000 x 10 x 3 ÷ 100) + 10000

= 13000

Compound interest :-

A = P (1 + R/100)^ T

= 10000 ( 1 + 10/100) ^ 3

= 10000 x 0.11 ^ 3

= 1100^ 3

= 13310

Total amounts

SI :- 13000

CI :- 13310

Only interest

SI :- 3000

CI :- 3310