Question

find compound interest if p=5000₹N=3,R=20 p.c.p.a also find simple interest​

Answer 1

Answer:

• CI after 3 years = ₹ 3640
• SI after 3 years = ₹ 300

Step-by-step explanation:

Given that:

• Principal = ₹ 5000
• Time (N) = 3 years
• Rate = 20% per annum

To find:

• Compound Interest and Simple Interest

Finding Compound Interest:

As we know that:

$\sf{Amount=Principal\bigg(1 + \dfrac{Rate}{100}\bigg)^{Time}}$

Where,

• Principal = ₹ 5000
• Rate = 20%
• Time = 3 years

Substituting the values,

$\sf{Amount=5000\bigg(1 + \dfrac{20}{100}\bigg)^{3}}$

Adding 1 and 20/100,

$\sf{ \longrightarrow5000\bigg( \dfrac{100 + 20}{100}\bigg)^{3}} \\ \\ \sf{ \longrightarrow5000\bigg( \dfrac{120}{100}\bigg)^{3}}$

Reducing the numbers,

$\sf{ \longrightarrow5000\bigg( \dfrac{6}{5}\bigg)^{3}}$

Opening the bracket,

$\sf{ \longrightarrow5000 \times \dfrac{6}{5} \times\dfrac{6}{5} \times\dfrac{6}{5}}$

Multiplying the numbers,

$\sf{ \longrightarrow\dfrac{1,080,000}{125}}$

Dividing the numbers,

$\sf{ \longrightarrow 8640}$

Hence, Amount after 3 years is ₹ 8640.

Now,

• CI = Amount - Principal

Substituting the values,

CI = ₹(8640 - 5000)

= ₹3640

Hence, CI after 3 years is ₹ 3640.

Finding Simple Interest:

As we know that:

$\sf SI = \dfrac{p \times r \times t}{100}$

Substituting the values,

$\sf \longrightarrow \dfrac{5000 \times 20 \times 3}{100}$

Reducing the numbers,

$\sf \longrightarrow \dfrac{5\times 20 \times 3}{1} \\ \\ \sf \longrightarrow 5 \times 20 \times 3$

Multiplying the numbers,

$\sf \longrightarrow 300$

Hence, SI after 3 years is ₹ 300.