Question

calculate the compound interest on 20,000 at 8% p.a for 3yers compounded annually

Answer 1

A = P(1+R/100)^n
=20000(1+8/100)^3
=20000(27/25)^3
=(32×27×27×27)25
=629856/25
=25194.24
CI =A-P
=25194.24-20000
=5194.24₹

Answer 2

p=20,000
r=8%
t=3yrs
CI=p(1+r/100)-p
=200000(1+8/100)³-200000
=5194.24