Question

calculate the amount and the compound interest by using the formula for compound interest is compounded annually
(a) Principal = ₹8000,Rate =10%p.a, Time=3years

Answer 1

P = Principal
A = Amount
R = rate
p.a. = per annum / per year
CI = Coumponu Interest
n = conversion periods
₹ = Indian currency

Concepts used :

1) Formula to calculate A
$a = p {(1 + \frac{r}{100} )}^{n}$

2)
Substituting the values to a variable

3)
Equation

4) Formula to calculate CI

CI = A - P