Question

find compound interest on ₹16,000 for 3 years at 5% per annum compounded annually ​

Answer 1

Answer:

2522 rupee

Step-by-step explanation:

A= p(1+R/100)the whole square n. A= 16000(1+5/100) the whole square 3. compound interest = 18522-16000 = 2522 rupee

Answer 2

$i = \frac{p \times r \times t}{100}$

For the first year,

P = 16000

r = 5

T = 1 ... (because we are first finding for 1st year)

$i = \frac{16000 \times 5 \times 1}{100}$

$i = \frac{80000}{100}$

$i = 800$

New Principal = 16000 + 800

= 16800

Now for 2nd year,

P = 16800

r = 5

T = 1

$i = \frac{p \times r \times t}{100}$

$i = \frac{16800 \times 5 \times 1}{100}$

$i = \frac{8400}{100}$

$i = 840$

New Principal = 16800 + 840

= 17640

For third year,

P = 17640

r = 5

T = 1

$i = \frac{p \times r \times t}{100}$

$i = \frac{17640 \times 5 \times 1}{100}$

$i = \frac{88200}{100}$

$i = 882$

So the Compound Interest = interest of 1st year + interest of 2nd year + interest of 3rd year

Compound Interest = 800 + 840 + 882

Compund Intetest = Rs 2252

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