Question

find compound interest on 1600 for 3 years at 12% per annum compounded annually​

Answer 1

Answer:

$\pink{ \boxed{Rs. 2,247.8848}}$

Step-by-step explanation:

$\purple{ \mathfrak{given}}$

• Principal amount P = Rs. 1600
• Time T= 3 years
• Rate R = 12%

$\mathfrak{ \underline{ \underline{ To \: find}}}$

• Compound interest.

$\pink{ \mathfrak{ \underbrace{Solution}}}$

We know that,

Compound interest C = P(1+R) ^T

According to the question,

$C = 1600(1 + 12\%) {}^{3} \\ = 1600(1 + \frac{12}{100} ) {}^{3} \\ = 1600 \times (1.12) {}^{3} \\ = 2,247.8848$