Question

Find the amount and compound interest compounded annually in each of the following cases.
a) Principal = 2000, Rare = 6% p.a., Time = 3 years
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Answer 1

Answer: A=2382.032, C.I=382.032

Step by Step Explanation:

For 1st Year:

P=2000, R=6%, T=1yr

S.I = P*R*T/100  

= 2000*6*1/100 = 120

A= P+I

=2000+120 = 2120

For 2nd year:

P=2120, R=6%, T=1yr

S.I = P*R*T/100

= 2120*6*1/100 =  127.2

A=P+I

= 2120+127.2 = 2247.2

For 3rd year:

P=2247.2, R=6%, T=1yr

S.I = P*R*T/100

= 2247.2*6*1/100 =  134.832

A=P+I

= 2247.2+134.832 = 2382.032

C.I = Amount-Original Principal

= 2382.032-2000

=382.032

   

Answer 2

Answer:

A- 2382. 032, c.l- 382.032