Question

Calculate the amount and compound interest on ₹ 10000 for 3 years at 2% per annum.
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Answer 1

Answer:Amount = 12597.12

Step-by-step explanation:Principal = 10000

Time = 3 yrs

Rate = 8% p.a.

C. I. = P×R×T/100

Or 10000×8×1/100

Or 100×8 = 800

Amount after 1st year = 10800

2nd year's P = A of 1st year

C. I. = 10800×8×1/100

Or 108×8 = 864

Amount after 2nd year = 11664 = P for 3rd year

11664×8×1/100 = 933.12

Amount = 12597.12

Hope it helps!