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