Question

Calculate the amount and compound intrest by using compound intrest formula, when P=Rs 8000 R=15% p.a. n=3 years

Answer 1

Here, P = 8000, R = 15%, T = 3 years

C. I. =

$p(1 + \frac{r}{100} )^{t} - 1$

$8000(1 + \frac{15}{100})^{3} - 1 \\ \\8000( \frac{23}{20} )^{3} - 1 \\ \\ 8000 \times \frac{12167}{8000} - 1 \\ \\ 8000 \times \frac{12167 - 8000}{8000} \\ \\ 8000 \times \frac{4167}{8000} = 4167$

So, the C. I. is ₹ 4167

Now, Amount = Principal + C.I.

$8000 + 4167 = 12167$

Hence, the Amount is ₹ 12167

So, Amount = ₹12167 & C. I. = ₹4167

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