Question

find compound interest of P-5000 R-10% T-3 years

Answer 1

Answer:

Step-by-step explanation:

P=5000

R=10%

T=2years

Amount=P(1+R:100)^n

=5000(1+10:100)^2

=5000(11:10)

=5000(11:10)(10:100)

=6050

CI=A-P

=6050-5000

=1050

Answer 2

Answer:

Step-by-step explanation:

1. p=5000

         R= 10%

         t = 3 years

amount of compound = 5000*1.1*1.1*1.1(1.1 is if we consider 100%=1 then 10% is .1 so the amount is 1.1 according to this)

                                = 6655

      compound interest = 6655-5000 = 1655 rs

2. you can use formula A = P (1 + r/n) (nt)

Where:

A = the future value of the investment/loan, including interest

P = the principal investment amount (the initial deposit or loan amount)

r = the annual interest rate (decimal)

n = the number of times that interest is compounded per unit t

t = the time the money is invested or borrowed for

                           if you use this formula answer you will get is same as above