Question

Calculate amount if 18000 is invested at 15% per annum compounded annually for 3 years.​

Answer 1

✬ Amount = Rs 27375.75 ✬

Step-by-step explanation:

Given:

• Principal is Rs 18000.
• Rate is 15% per annum.
• Time given is 3 years.

To Find:

• What is the amount after 3 years ?

Solution: Using the formula of compound interest.

★Amount = Principal(1 + Rate/100)^n ★

$\implies{\rm }$ A = 18000(1 + 15/100)³

$\implies{\rm }$ A = 18000( 100 + 15/100)³

$\implies{\rm }$ A = 18000(115/100)³

$\implies{\rm }$ A = 18000(23/20)³

$\implies{\rm }$ A = 18000 $\times$ 12167/8000

$\implies{\rm }$ A = 18 $\times$ 12167/8

$\implies{\rm }$ A = 18 $\times$ 1520.87

$\implies{\rm }$ A = 27375.75

Hence, the amount is Rs 27375.75.

Answer 2

GIVEN :-

• Principal (P) = Rs. 18000

• Rate (R) = 15%

• Time (T) = 3 years.

TO FIND :-

• The amount after 3 years ?

SOLUTION :-

As we know that,

$\dagger \: { \boxed { \red{ \tt{A \: =P \: (1 + \frac{R}{100} ) {}^{T} }}}}$

[ Put the values ]

$\tt \longrightarrow \: A \: = 18000(1 + \frac{15}{100} ) {}^{3} \\ \\ \tt \longrightarrow A \: = 18000( \frac{100 + 15}{100} ) {}^{3} \\ \\ \tt \longrightarrow A \: = 18000 \times ( \frac{115}{100} ) {}^{3} \\ \\ \tt \longrightarrow A \: = 18 \cancel{000} \times \frac{1520875}{1000 \cancel{000}} \\ \\ \tt \longrightarrow A = 18 \: \times \: 152.0875 \\ \\ \tt \longrightarrow { \red{A \: = Rs.27375.75}}$

Therefore, the amount after 3 years is Rs.27375.75.