Find the amount and compound interest at on 2000 at 10% per annum for 3 years.
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Answer:
Principle = 2000$
Rate=10%
Time=3 years
formula of compound interest is P(R/100+1)^t-P
compound interest 2000*(10/100+100/100)^3-2000
compound interest is 2000*(110/100)³-2000
compound interest is (2000*11/10*11/10*11/10)-2000
compound interest is 2662-2000=662
so compound interest is 662,amount is 2662 ok
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