Question

Calculate the compound interest on 20000 at 8%​

Answer 1

Answer:

Rs 5194.24

Step-by-step explanation:

Given principle = Rs 20,000 and rate of interest = 8% and time = 3 years

Amount = p(1+r/100)^n

             = 20000 (1+8/100)³

⇒ 20000(27/25)³ =  20000*19683/15625 = 25194.24 Rs

Amonut = 25194.24 Rs

C.I = amonut - priciple

C.I = 25194.24 - 20000 = Rs 5194.24