Question

Calculate the amount and compound
intrest & 3000 20% Per annum compound
Yearly for 3 years
BY​

Answer 1

Step-by-step explanation:

Principle (P)=Rs.32000     Time (T)=1 year 

Rate R=20% per annum

Since it is compounded half year 

the rate of interest is considered for the half yearly period 

∴  Rate (R)=220%=10% per half year

Time(T) is 1 year=2 half-year

Amount=P(1+100R)T

=32000(1+10010)2

=32000(100121)

Amount=38720

∴ Interest=Amount−Principle

=38720−32000

Interest=Rs.6720