Calculate the compound interest and the amount on the sum of ₹8000 borrowed at the for 3 years interest rate of 12% per annum compounded anually..
Answer :- 3239.42 but I want solution..
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Answers
Step-by-step explanation:
On the basis of composition, matter can be classified as compound, element and mixture. Solids, liquids and gases are physical states of matter
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Answer:-
•Amount = ₹ 11239.42
•Compound interest = ₹ 3239.42
Explanation:-
Given:-
→Principal/Sum = ₹ 8000
→Rate of Interest = 12% per annum
→Time = 3 years
To find:-
→Amount
→Compound interest
Solution:-
We know that :-
=> A = P( 1 + R/100)ᵗ
Where:-
• A is amount
• P is principal/Sum
• R is Rate of Interest
• t is time
=> A = 8000( 1 + 12/100)³
=> A = 8000( 112/100)³
=> A = 8000×112/100×112/100×112/100
=> A = 1404928/125
=> A = ₹ 11239.42
Thus, we have got amount as ₹ 11239.42
Now, we know that:-
=> C.I. = A - P
=> C.I. = ₹ (11239.42-8000)
=> C.I. = ₹ 3239.42
Thus, the compound interest is
₹ 3239.42