Calculate the compound interest on 16000 in 3 years for 12% interest
Answers
Answered by
0
Answer:
1st year -12%of 16000+16000=17920
2nd year-12%of 17920+17920=20070.4
3rd year-12%of 20070.4+20070.4=22478.848
Answered by
94
Answer:
★The compound interest = 6478.848★
Given:
- P = ₹ 16000
- R = 12 %
- T = 3 years
Find:
- Compund interest
Here we have to use the formula of calculating compound interest using time , rate of intetest , principal amount
⚕Formula to be used :-
➫Putting all the values ,
→
→
→
→
→
•°•The compound interest is ₹ 6478.848
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