Question

calculate the amount and the compound interest on rs. 20000 for three years at 8% per annum.

Answer 1

For first year=20000×8×1÷100=1600
20000+1600=21600

For second year=21600×8×1÷100=1728
21600+1728=23328

For third year=23328×8×1÷100=1866.24
23328+1866.24=25194.24

Hope it helps u....

Answer 2

C. i=5194.24
Amount =25194.24