Question

find the amount and compound interest in the following cases principal 1000 rate per annum 5% time 3 year​

Answer 1

Answer:

Compound interest = rs. 157.625

amount = 1157.625

Step-by-step explanation:

C.I = p₁ (1+r/100)ⁿ - p₁

c.i = 1000 (1+5)³ - 1000

c.i = [ 1000 * 105 * 105 * 105/1000000 ] - 1000

c.i = [ 105 * 105 * 105/1000 ] - 1000

c.i = 1157.625 - 1000  { amount = 1157.625 }

c.i = 157. 625