Question

Calculate what R10000 will amount to if it is invested at 10% per annum compound interest for 3 years

Answer 1

The formula for compound interest is P x (1+r)$^{t}$
So according to the question,
Principle = 10000
Rate = 10% 
Time = 3yrs

So equating the values we have,
10000 x (1+10/100)³
= 10000 x (110/100)³
= 10000 x 110/100 x 110/100 x 110/100
= Rs. 13,310

Hope that helps !!