Question

find compound interest on rs 20000 at 15 persent per annum for 3year

Answer 1

To find C.I, first we need to find the amount,
A = P( 1 + R/100 )^3
= 20000 ( 1 + 15/100 )^3
= 20000 ( 100/100 + 15/100 )^3
= 20000 ( 115/100 )^3
= 20000 ( 23/20 )^3
= 20000 × 23/20 × 23/20 × 23/20 ( Nest step, Cancel the zeroes from 20 to 20000 )
= 20×23×23×23/2×2×2
= 243340/8
= ₹30417.50

C.I = A-P
= 30417.50 - 20000
= ₹ 10417.50

Ans. = ₹10417.50

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