Question

find interest and amount to be paid on RS 10000 at 10% per annum after 3 years interest compounded annually.​

Answer 1

• Interest is Rs.3000.
• Amount is Rs.13310.

Step-by-step explanation:

Given:-

• Principal is Rs. 10000 .
• Rate of interest is 10%.
• Time period is 3 years.

To find:-

• Interest.
• Amount.

Solution:-

We know,

Simple interest = P×R×t/100

In which,

• P, r and t are principal, Rate of interest and time period respectively.

➝ 10000 × 10 × 3/100

➝ 300000/100

➝ 3000

Therefore,

Interest is Rs.3000 .

_________________________________

We also know that,

$\bold{Amount = P( 1 + \cfrac{r}{100} )^{2} }$

In which,

• P, r and n are principal, rate of interest and time period respectively.

So,

➝ 10000×(1 + 10/100)³

➝ 10000×(110/100)³

➝ 10000×110/100×110/100×110/100

➝ 10000×1331000/1000000

➝ 10000×1.331

➝ 13310

Therefore,

Amount is Rs.13310 .

Answer 2

Solution :-

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