Calculate the compound interest on rupees 20,000 for 3 years at 5% per annum when the interest is compounded annually
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A=p(1+r/100)^n
Given:
P=20000
N=3years
R=20%
A=20000(1+20/100)^3
=20000(6/5)^3
=20000*216/125
=160*216
=34560
Given:
P=20000
N=3years
R=20%
A=20000(1+20/100)^3
=20000(6/5)^3
=20000*216/125
=160*216
=34560
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