Question

Calculate the compound interest and amount of rs1500 at 5% Per annum for 3 year by formula

Answer 1

Answer:

i=2700

Step-by-step explanation:

p=1500

n=3years=12×3=36

r=5%

i=p×n×r/100

=1500×36×5/100

=2700

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Answer 2

$\underline{\bf{Question:-}}$

Find the difference between the simple interest and compound interest on rs1500 for 3 year at 5% p.a.

$\underline{\bf{Given\:that:-}}$

▶️Principle, p = 1, 500

▶️Time period, n = 3 years

▶️Rate of interest, r = 5 % per annum.

$\underline{\bf{Equation\:used:-}}$

$\sf{:\implies{Compound\:Interest = P(1+\dfrac{r}{n})^{nt}-1}}$

$\sf{:\implies{Amount = Principle + Compound\:Interest}}$

$\underline{\bf{Solution:-}}$

$\sf{:\implies{Compound\:Interest = P(1+\dfrac{r}{n})^{nt}-1}}$

$\sf{:\implies{Compound\:Interest = 1,500(1+\dfrac{5}{100})^{3}-1}}$

$\sf{:\implies{Compound\:Interest = 1,500(1+0.05)^{3}-1}}$

$\sf{:\implies{Compound\:Interest = 1,500(1.05)^{3}-1}}$

$\sf{:\implies{Compound\:Interest = 1,500(1.157625-1)}}$

$\sf{:\implies{Compound\:Interest = 1,500(0.157625)}}$

$\bf{:\implies{Compound\:Interest = 236.4375}}$

$\boxed{\bf{:\implies{Compound\:Interest = 236.4375}}}$

$\sf{:\implies{Amount = Principle + Compound\:Interest}}$

$\sf{:\implies{Amount = 1, 500 + 236.4375}}$

$\bf{:\implies{Amount =1,736.4375}}$

$\boxed{\bf{:\implies{Amount =1,736.4375}}}$

$\underline{\sf{Additional\:information:-}}$

1. Amount received on a certain sum of money of Rs P invested at the rate of r % per annum compounded annually for n years is given by

$\boxed{\bf{:\implies{Amount = P(1+\dfrac{r}{n})^{nt}}}}$

2. Amount received on a certain sum of money of Rs P invested at the rate of r % per annum compounded semi - annually for n years is given by

$\boxed{\bf{:\implies{Amount = P(1+\dfrac{r}{200})^{2n}}}}$

3. Amount received on a certain sum of money of Rs P invested at the rate of r % per annum compounded quarterly for n years is given by

$\boxed{\bf{:\implies{Amount = P(1+\dfrac{r}{400})^{4n}}}}$

4. Amount received on a certain sum of money of Rs P invested at the rate of r % per annum compounded monthly for n years is given by

$\boxed{\bf{:\implies{Amount = P(1+\dfrac{r}{1200})^{12n}}}}$