Question

Find compound interest on ₹ 2000 for 3 years at 5% per annum compound interest.
please answer my question step by step.​

Answer 1

Answer:

he difference between compound interest and simple interest on ₹x at rate 6.5% per annum for 2 years is ₹33.80.

Step-by-step explanation:

Answer 2

$\huge\underline\mathfrak\red{Answer}$

$\rule{300}{2}$

$\huge\underline\mathfrak\green{Solution}$

Given:

Principal (p)=2000

Time(n)=3 yrs

Rate of interest (r)=5%

Now,the formula of compound interest is

$</strong><strong>I</strong><strong> = p(1 + \frac{r}{100} )^{n}$

Now by putting the values in the formula,we get.

$= 2000(1 + \frac{5}{100}) ^{3} \\ = 2000( \frac{105}{100} )^{3} \\ = 2000 \times \frac{105}{100} \times \frac{105}{100} \times \frac{105}{100} \\ = 21 \times 105 \times \frac{105}{100} \\ = \frac{231525}{100} \\ = 2315.25$

CI= 2315.25.

$\rule{300}{2}$