Question

calculate the amount and interest on Rs10,000 for 3 years at 6%p.a compounded annually​

Answer 1

Answer:

To find

- the amount and interest on Rs10,000 for 3 years at 6%p.a compounded annually

Rs 10,000 x 6/100 = Rs 600

So we know that the amount of interest for 1 year is Rs 600 but what about 3 years?

Rs 600 x 3 = Rs 1,800

After 3 years, the amount of interest for 3 years is Rs 1,800.

Rs 10,000 + Rs 1,800 = Rs 11,800