Question

Calculate the amount and ci on rs 3000 at 5% per annum for 2 years.

Answer 1

PRINCIPAL(P)=₹3000

RATE OF INTEREST(R)=5% p.a

TIME(T)=2 years

Amount=

$p {(1 + r\%)}^{2} \\ 3000 {(1 + \frac{5}{100} )}^{2} \\ 3000 {( \frac{105}{100} )}^{2} \\ 3000 \times \frac{105}{100} \times \frac{105}{100} \\ 3 \times 105 \times \frac{105}{10} \\ 3 \times 21 \times \frac{105}{2} \\ 3 \times 21 \times 52.5 \\ 63 \times 52.5 \\ 3307.05$