Question

Calculate the amount and the compound interest on 5000 for 3 years at 11% per annum
and you can see the question by this picture also
but if anyone don't knew this answer then please don't post unnecessary answers this is my humble request
​

Answer 1

Given -

• Principal (P) = Rs.5000
• Time (n) = 3 years
• Rate of interest (R) = 11%

To find -

• Amount
• Compound interest

Solution -

• According to the formula

→ Amount = P(1 + R/100)ⁿ

→ Amount = 5000(1 + 11/100)³

→ A = 5000(100 + 11/100)³

→ A = 5000 × (111/100)³

→ A = 5000 × 111/100 × 111/100 × 111/100

→ A = 5 × 111 × 111/10 × 111/100

→ A = 5 × 111 × 11.1 × 1.11

→ A = 555 × 12.321

→ A = Rs.6838.15

•°• Amount = Rs.6838.15

As we know that

★ C.I = Amount - Principal

→ C.I = 6838.15 - 5000

→ C.I = Rs.1838.15

•°• Compound interest = Rs.1838.15

________________________________

Answer 2

Answer:

Given :-

• The on Rs 5000 for 3 years at 11% per annum.

To Find :-

• What is amount of the sum.

Formula Used :-

❶ To find amount we know that,

$\boxed{\bold{\large{A\: =\: P\bigg(1 + \dfrac{r}{100}\bigg)^{n}}}}$

where,

• A = Amount
• P = Principal
• r = Rate of Interest
• n = Time

❷ To find compound interest we know that,

$\boxed{\bold{\large{C.I\: =\: Amount\: -\: Principal}}}$

where,

• C.I = Compound Interest

Solution :-

❶ First we have to find the amount,

Given :

• Principal = Rs 5000
• Rate of Interest = 11%
• Time = 3 years

According to the question by using the formula we get,

⇒ $\sf A\: =\: 5000\bigg(1 + \dfrac{11}{100}\bigg)^{3}$

⇒ $\sf A\: =\: 5000\bigg(\dfrac{111}{100}\bigg)^{3}$

⇒ $\sf A\: =\: 5000 \times \dfrac{111}{100} \times \dfrac{111}{100} \times \dfrac{111}{100}$

⇒ $\sf A\: =\: \dfrac{6838155000}{1000000}$

➠ $\sf\bold{A\: =\: Rs\: 6838.15}$

Hence, the amount is Rs 6838.15 .

❷ Now, we have to find the compound interest,

Given :

• Amount = Rs 6838.15
• Principal = Rs 5000

According to the question by using the formula we get,

↦ $\sf C.I\: =\: Rs\: 6838.15 -\: Rs\: 5000$

➦ $\sf\red{C.I\: =\: Rs\: 1838.15}$

$\therefore$ The compound interest is Rs 1838.15.