Compound interest on Rs 2000 for 3 years at 5% p.a.is
a) Rs.300
b) Rs.315.25
c) 325.50
d) 333.75
Answers
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Principal-Rs 2000
Time- 3 years
Rate =5% p.a.
A= P(1+r/100)^n
Amount= 2000(1+[5/100])³
=2000×21/20×21/20×21/20
=₹2315.25
So compound interest=₹2315.25-2000=₹315.25
Ans)The compound interest is ₹315.25 or number b)
Time- 3 years
Rate =5% p.a.
A= P(1+r/100)^n
Amount= 2000(1+[5/100])³
=2000×21/20×21/20×21/20
=₹2315.25
So compound interest=₹2315.25-2000=₹315.25
Ans)The compound interest is ₹315.25 or number b)
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