Question

Calculate the amount & the compound interest
on rs 64000 for 3 years at 7 1/2%
compound aunnally.

(Find interest and compound interest. Step by step). ​

Answer 1

ANSWER

Principal=64000

Rate=7.5%p.a

Time=3years 

Where r is the rate and t is the time.

CI=64000(1+7.5/100)3−64000

=64000(1+75/1000)3−64000

=64000(1+3/40)3−64000

=64000(43/40)3−64000

=64000∗43/40∗43/40∗43/40−64000

=43∗43∗43−64000

=79507−64000

=15507

Hence CI will be 15507 rupees

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