Question

calculate the CI in 28000 at 12% per annum compounded annually for 3 years.​

Answer 1

Answer:

The amount compounded annually for 3 years will be 39337.98

Step-by-step explanation:

The formula for calculating compound interest is given below

       A = P (1 + r/n) (nt)

Data given:

• P= 28000
• r= 12%
• n= 1
• t= 3

By putting these values in the above formula we will get the answer.

A=28000(1+0.12/1)^1*3

=39337.98

Answer 2

Compound interest  = 11,337.984 foor Rs 28000 at 12% per annum in 3Years

Step-by-step explanation:

P = 28000

R = 12 %

n = 3 Years

A = Amount after 3 Years

A = P (1 + R/100)ⁿ

=> A = 28000 ( 1 + 12/100)³

=> A = 28000 ( 1.12)³

=> A = 28000 ( 1.404928)

=> A = 39,337.984

CI = Amount - Principle

=> CI = 39,337.984 - 28000

=> CI = 11,337.984

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