Question

Find compound interest on the sum of Rs 15,000 at the rate 12% p.a. for 3 years

Answer 1

HELLO!!

ANSWER:

Compound interest = ₹6073.92

EXPLANATION:

GIVEN:

Principal (P) = ₹15000
Rate of interest (r) = 12% p.a.
Time (n) = 3 years

TO FIND:

Compound interest

SOLUTION:

AMOUNT (A)= P ( 1 + r/100)³

A= 15000 (1 + 12/100)³

A= 15000( 1 + 0.12)³

A= 15000 (1.12)³

A= 15000 (1.404928)

A= ₹21073.92

COMPOUND INTEREST (CI)= A-P

CI = ₹21073.92 - 15000

CI = ₹6073.92

HOPE IT HELPS YOU!!

Answer 2

R=12%p.a
p=15000
t=3year
A=p(1+R/100)^t
A=15000(1+12/100)^3
A=15000(112/100)^3
A=(15000×112×112×112)/100×100×100
A=(15×112×112×112)/1000
A=21073.92rs
ci=A-p
ci=21073.92-15000
ci=6073.92rs