Question

Find CI and amount on rupees 72000 at 6% per annum compounded compounded annually 3 years.

Answer 1

$\underline \bold{Solution:-}$

Principal = 72000 rupees

Rate of interest = 6%

Time = 3 years

We know that

$amount = principal {(1 + \frac{rate}{100}) }^{time} \\ \\ = 72000 {(1 + \frac{6}{100}) }^{3} \\ \\ = 72000 {( \frac{100 + 6}{100} )}^{3} \\ \\ = 72000 {( \frac{106}{100}) }^{3} \\ \\ = 72000 \times {(1.06)}^{3} \\ \\ = 85753.15 \: rupees$

C.I. = Amount - Principal

= 85753.15 - 72000

= 13753.15 rupees