Find compound intrest on20000 for 3years at10% annum
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Answer:6620 Rs
Step-by-step explanation:
A = P[1 + R/100]^n
P = Principal = Rs.20000
R = rate of interest = 10%
n = Time = 3 years
A = 20000* [1 + 10/100]^3
= 20000 * [100+10/100]^3 = 20000 *110*110*110/100*100*100
= 2*11*11*110 = 26620
Compound Interest = A - P = 26620 - 20000 = Rs.6620
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