Calculate Compound Interset principal= 20000
Time= 3 years
Rate= 8%
Answers
Answered by
0
Answer:
A =Amount
P = Principal
r =Rate of interest
n =Time period
Calculation:
A =20,000(1 + (r/100))n
A =20,000(1 + (8/100))3
A =20,000(27/25)3
A =20,000(19683/15625)
A =25,194.24
Now, Compound Interest =Amount - Principal
CI =25194.24 - 20,000
CI =5194.24
Compound Interest is Rs.5194.24
Answered by
1
Answer:
Given:
The principal of rs 20000
Rate is 8% per annum
Time is 3 years
Concept used :
A= Amount
P= Principal
R = Rate of interest
N = Time period
Calculation:
A= 20000{1+(r/100)}^n
A= 20000{1+(8/100)}^3
A= 20000(27/25)^3
A = 20000(19683/15625)
A = 25194.24
Now , Compound intrest = Amount- Principal
CI = 25194.24-20000
CI=5194.24
Compound Interest is Rs 5194.24
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