Question

Find out the compound interest for Rs.5000 at 6℅ for 3 years​

Answer 1

Answer:

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Step-by-step explanation:

$so \: here \\ principal \: (P) = Rs.50000 \\ Rate \: of \: interest \: (R) = 6\% \\ tenure(n) = 3.years \\ \\ so \: we \: know \: that \\ compound \: interest \:(CI) = P(1 + \frac{R}{100} ) {}^{n} \\ \\ = 50000 \times (1 + \frac{6}{100} ) {}^{3} \\ \\ = 50000( \frac{100 + 6}{100} ) {}^{3} \\ \\ = 50000 \times ( \frac{106}{100} ) {}^{3} \\ \\ = 50000 \times \frac{106}{100} \times \frac{106}{100} \times \frac{106}{100} \\ \\ = 50000 \times \times \frac{106 \times 106 \times 106}{1000000} \\ \\ = \frac{106 \times 106 \times 106}{20} \\ \\ = \frac{53 \times 53 \times 106}{5} \\ \\ = 59550.8$

$so \: thus \: then \\ compound \: interest = Amount - Principal \\ = 59550.8 - 50000 \\ = 9550.8 \: Rs$