Question

find a compound interest when it is compounded annually p=Rs8000 ; r =5% p. a ; n = 3 years​

Answer 1

Answer:

Rs . 1261

Step-by-step explanation:

p= 8000

r = 5%

n = 3 years

so according to the simplest formula...

c i1 = ptr / 100 = 8000 x 5 x 1 / 100   (since it is compound interest we should evaluate it  year by year )

= 400

a = 8400, p2 = 8400

ci2 = 8400 x 5 x 1 / 100

= 420  a2 = 8820 ,  p3  = 8820

ci3 = 8820 x 5 x 1 /100

= 441

so ci =  ci 1 +ci 2 +ci 3 = 400 + 420 + 441

=1261 rs

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