Question

Calculate the compound interest and total amount for a sum of 120000rs. borrowed for 3years at a rate of 9/2%p.a. compounded annually

Answer 1

Answer:

Given; P= Rs 12000; n = 3 years and r = 5%

Amount = p(1+100r)n

              =1200(1+1005)n

              =12000(2021)3

               =Rs13,891.50

∴C.I=Rs13891.50−Rs12,000

                           =Rs1,891.50