Question

Calculate the compound interest on ₹60000 for 3 years at 4%,5% and 6%​

Answer 1

Step-by-step explanation:

3120+3931.2+2400

CI=9451.2

Answer 2

Answer:

For first year

P = 60000

R = 4%

I = PR/100

= 60000*4/100

= 2400

Amount after first year = 60000+2400 = 62400

For second year

P = 62400

R = 5%

I = PR/100

= 62400*5/100

= 3120

Amount after second year = 62400 + 3120 = 65520

For third year

P = 65520

R = 6%

I = PR/100

= 65520*6/100

= 3931.20

Amount after third year = 65520 + 3931.20

= 69451.20

CI = 69451.20 - 60000

= 9451.20