find compound interest on rs. 2000 for 3 year at 10% per annum.
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Please refer the above photograph for the used process.
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Hi ,
Principal ( P ) = Rs 2000
Rate of interest ( r ) = 10%
Time ( T ) = 3 years
number of times interest paid ( n ) = 3
Amount ( A ) = P ( 1 + r/100 )^n
A = 2000 ( 1 + 10 /100 )³
= 2000 ( 1 + 1/10 )³
= 2000 ( 11/10 )³
= ( 2000 × 11 × 11 × 11 ) / ( 10 × 10 × 10 )
= 2 × 1331
A = Rs 2662
compound interest = A - P
= 2662 - 2000
= Rs 662
I hope this helps you.
:)
Principal ( P ) = Rs 2000
Rate of interest ( r ) = 10%
Time ( T ) = 3 years
number of times interest paid ( n ) = 3
Amount ( A ) = P ( 1 + r/100 )^n
A = 2000 ( 1 + 10 /100 )³
= 2000 ( 1 + 1/10 )³
= 2000 ( 11/10 )³
= ( 2000 × 11 × 11 × 11 ) / ( 10 × 10 × 10 )
= 2 × 1331
A = Rs 2662
compound interest = A - P
= 2662 - 2000
= Rs 662
I hope this helps you.
:)
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