Question

find compound interest on the sum of rupees 15000 at the rate of 12% for 3 years​

Answer 1

SI = PxRxT/100

= 15000x12x3/100

= 5400

A = P+SI

A = 15000+5400

A = 20,400

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Answer 2

Given:

• Principal (p) = 15000
• Rate (r) = 12%
• Time (t) = 3 years

To Find:

• Compound Interest?

Formula Used:

$\\ \bigstar{\underline{\boxed{\tt\large\green{ Amount = p(1 + \dfrac{r}{100} )^t }}}}$

Where

• t = time
• A = Amount
• r = Rate
• p = Principal

Solution:

After substituting values,

$\implies$ A = p(1 + r/100)ⁿ

$\implies$ A = 15000(1 + 12/100)³

$\implies$ A = 15000( 56/50 )³

$\implies$ A = 15000 × 56/50 × 56/50 × 56/50

$\implies$ A = 15000 × 1.4

$\implies$ A = ₹ 21000

Hence,

• The Amount After completing 3 years will be ₹ 21000.

________________________

$\\ \bigstar{\underline{\boxed{\tt\large{ \pink{ Interest_{(Compound)} } = Amount_{(A)} - Principal_{(p)} }}}}$

$\implies$ CI = Amount - Principal

$\implies$ CI = ₹21000 - ₹ 15000

$\implies$ CI = ₹ 6000

Hence,

• The Compound Interest after 3 years is ₹ 6000.