Question

Calculate the amount on Rs. 28,000 at 12% p.a. compounded annually for 3

years​

Answer 1

Given :-

• Principal = Rs,28000
• Rate = 12%
• Time = 3 years

To Find :-

• Amount

Formula :-

${:} \longrightarrow \sf \underline{\boxed{\bf{Amount \: = \: Principal \: \times \bigg(1 \: + \: \dfrac{Rate}{100} \bigg)^{Time} }}}$

Solution :-

$\longmapsto \sf{\sf{Amount \: = \: Principal \: \times \bigg(1 \: + \: \dfrac{Rate}{100} \bigg)^{Time} }} \\\\ \longmapsto \sf{\sf{Amount \: = \: 28000 \: \times \bigg(1 \: + \: \dfrac{12}{100} \bigg)^{3} }} \\\\ \longmapsto \sf{\sf{Amount \: = \: 28000 \: \times \bigg( \dfrac{112}{100} \bigg)^{3} }} \\\\ \longmapsto \sf{\sf{Amount \: = \: 28 \cancel{000} \: \times \: \dfrac{112}{1 \cancel{00}} \: \times \: \dfrac{112}{1 \cancel{0}0} \: \times \: \dfrac{112}{100} \: }} \\\\ \longmapsto \sf{\sf{Amount \: = \: 28 \: \times \: \dfrac{112}{1} \: \times \: \dfrac{112}{10} \: \times \: \dfrac{112}{100} \: }} \\\\ \longmapsto \sf{\sf{Amount \: = \: 28 \: \times \: \dfrac{112 \: \times \: 112 \: \times \: 112}{1000} }} \\\\ \longmapsto \sf{\sf{Amount \: = \: \dfrac{12544\: \times \: 3136}{1000} }} \\\\ \longmapsto \sf{\sf{Amount \: = \: \dfrac{ 39,337,984 }{1000} }} \\\\ \longmapsto \sf{\bf{Amount \: = \: 39,337.984 }}$

________________

So, Amount is Rs,39,337.984

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Answer 2

Answer:

Given :-

• A sum of Rs 28000 at 12% p.a at compounded annually for 3 years.

To Find :-

• What is the amount.

Formula Used :-

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

where,

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

Solution :-

Given :

• Principal (P) = Rs 28000
• Rate of Interest (r) = 12%
• Time (n) = 3 years

According to the question by using the formula we get,

⇒ $\sf A =\: 28000\bigg(1 + \dfrac{12}{100}\bigg)^{3}$

⇒ $\sf A =\: 28000\bigg(\dfrac{100 + 12}{100}\bigg)^{3}$

⇒ $\sf A =\: 28000\bigg(\dfrac{112}{100}\bigg)^{3}$

⇒ $\sf A =\: 28\cancel{00}\cancel{0} \times \dfrac{112}{1\cancel{00}} \times \dfrac{112}{10\cancel{0}} \times \dfrac{112}{100}$

⇒ $\sf A =\: \dfrac{28 \times 112 \times 112 \times 112}{1000}$

⇒ $\sf A =\: \dfrac{39337984}{1000}$

➠ $\sf\bold{\purple{A =\: Rs\: 39337.984}}$

$\therefore$ The amount is Rs 39337.984 .