Question

. Calculate the amount and the compound
interest on:
(1) 6,000 in 3 years at 5% per year.
​

Answer 1

Amount = P × (1/R+ 100)n

= 6000× (1/5+100)3

= 6945750/1000

= 6945.750

So, amount = 6945.750

Then,

C.I = 945.750