Question

find tha amout of rs 1000 @ 4% per annum compound interest for 3 years

Answer 1

the answer for this question is 120

Answer 2

Hi friends

Here is your answer

P = Rs 1000
R = 4%
T = 3 years
n= 3 as Compounded annually

As we know the formula
A = P(1 + R/100)^n
$= 1000 \times (1 + \frac{4}{100}) {}^{3} \\ \\ = 1000 \times (1 + \frac{1}{25} ) {}^{3} \\ \\ = 1000 \times ( \frac{25 + 1}{25} ) {}^{3} \\ \\ = 1000 \times ( \frac{26}{25} ) {}^{3} \\ \\ = \frac{1000 \times 26 \times 26 \times 26}{25 \times 25 \times 25} \\ \\ = 1124.86$
Therefore Amount is Rs 1124.86

Hope it helps you
@ MSD