Question

Calculate compound interest for rs.1000 @ 6 for 3 years

Answer 1

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GIVEN :

PRINCIPAL = 1,000RS

RATE = 6 %

TIME = 3 YRS

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AMOUNT :

P ( 1 + R / 100 ) ^ N

1,000 ( 1 + 6 / 100 ) ^3

1000 * ( 106 / 100 ) ^3

1000 * 106 / 100 * 106/ 100 * 106 / 100

106 * 106 / 10 / 106 / 100

1191.016 RS

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COMPOUND INTEREST :

AMOUNT - PRINCIPLE

1,191.016 - 1,000

191.016 RS

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ANS.

.................." 191.016 "..................

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