Question

ASO
stal Mathematos
5. Calculate the amount and the compound interest when 16.000 is invested for 3 years at
the rate of 5% p.a. compounded annually.
Find the compound​

Answer 1

Answer:

2555

Step-by-step explanation:

Principal = (P) = ₹16, 000

Time = (t) = 3 years

Rate = (r) = 5%

Amount = Principal × (1 + (r/2 × 100)) n × 2

= ₹ 16,000 × (1+ (5/200)) 3 × 2

= ₹16,000 × (205/200)6

= ₹ 16,000 × 41/40 × 41/40 × 41/40 × 41/40 × 41/40 × 41/40

= ₹ 18,555

C.I. = Amount – Principal

= ₹ 18,555 - ₹ 16,000

₹ 2555

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