Find amount and compound interest on ruppes ruppes
2000 at 5%per annum for 3 years
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Answer:
it is 6000 compund intrest on ruppes
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solution ⤵️
amount =p(1+r/100)³ruppes(p is principal and r is rate of interest)
Amount =(p(1+r/100)³
therefore,2000(1+5/100)³ruppes
therefore,2000(105/100)³ruppes
therefore,2000(21/20)³ ruppes
therefore,2000×21/20×21/20×21/20=2315.25 ruppes
amount =2315.25 ruppes
ci (compound interest)=2315.25-2000=315.25 ruppes
compound Interest
Example. If an amount of $5,000 is deposited into a savings account at an annual interest rate of 5%, compounded monthly, with additional deposits of $100 per month (made at the end of each month). The value of the investment after 10 years can be calculated as follows... P = 5000.
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