Question

calculate compound interest on Rs 500 for 3 years at 10% per annum rate of interest​

Answer 1

Answer:

here is your ans

Step-by-step explanation:

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Answer 2

Finding Compound Interest:

Principal for first year:

Rs. 500

Interest for the first year:

$\large \pink {\tt {\frac {500 \times 10 \times 1}{100} = Rs. \: 50}}$

Amount at the end of first year:

Rs. 500 + Rs. 50 = Rs. 550

Interest for the second year:

$\large \purple {\tt {\frac {550 \times 10 \times 1}{100} = Rs. \: 55}}$

Amount at the end of second year:

Rs. 550 + Rs. 55 = Rs. 605

Interest for the third year:

$\large \blue {\tt {\frac {605 \times 10 \times 1}{100} = Rs. \: 60.5}}$

Amount at the end of third year:

Rs. 605 + Rs. 60.5 = Rs. 665.5

Compound Interest = Amount - Principal

Compound Interest = Rs. 665.5 - Rs. 500

Compound Interest = Rs. 165.5