Deerubhai borrowed from district cooperative bank a sum of Rs 2000 to instal a handpump is his dairy . If the rate of interest is 4 percent per annum , calculate the compound interest that deerubhai pays to the bank after 3 years
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cooperative bank
principal =20000
rate=4percent /annum
n=3 yrs
A=p(1+r/100)n
2000(1+4/100)³
2000(104/100)³
2000×104/100×104/100×104/100
22497.28
CI=A-p
=22497.28-20000
2497.28
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