Question

Calculate the amount and the compound interest on:
₹6,000 in 3years at 15% per year​

Answer 1

where, P is principal, r is rate of interest, t is number of years and n is number of times interest compounded in a year. Substitute P=6000, t=3, r=0.05 and n=1 in the above formula. Therefore, the amount is Rs. 6945.75 and the compound interest is Rs

Answer 2

Answer:

given :-

• Principal = 6,000
• Time ( n ) = 3 years
• Rate = 15%

Compound interest Cl = p( 1 + r/ 100 )n

=> 6000 ( 1 + 15/100 )3

=> 6000 ( 105/100 )3

=> 6000 ×105/100×105/100×105/100

=> 6945.75 rs.

Amount = Principal + Compound Internet

Amount = ₹ 6000 + 6945.75

= ₹ 12945.75

Hence compound interest is ₹ 12945.75