Question

Calculate the amount and compound interest on 10,000 for three years at 6% per annum compounded annually.
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Answer 1

Step-by-step explanation:

○ Sol =>__

☆_____You__can__solve__it__ratio___method___

☆_____ratio___of___three__years___(3: 3: 1)

3 => _____ 10000 × 6% = 600 ×3 = 1800

3 => ______ 600×6% = 36×3 = 108

1 => ______36 × 6% = 2.16

☆___So,

☆____Interest = > 1800 + 108 + 2.16 = 1910.6

☆___ Amount => 1910.6 + 10000 => 11910.6

Answer 2

Step-by-step explanation:

A = P (1 + r/100)t

=10,000( 1 + 6/100)3

= 10,000 ×106/100 ×106/100 × 106/100

= 106×106×106/100

= 11,910.16 Rs

CI = A - P

= 11,910.16 -10,000

= 1,910.16 Rs.