Question

Find the amount and compound interest on ₹ 1200 at 5% p.a interest
for 3 years.

Answer 1

Step-by-step explanation:

A = P(1+R/100) to the power n

A = 1200 × 105/100 ×105/100 x 105/100

A = 12 × 105 ×105 ×105 / 100

A =1389.15

CI = A- P

CI = 1389.15 -1200

CI = 189.15

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Answer 2

Step-by-step explanation:

P:1200 ; R:5% ; T:3yrs

For 1st yr

P:1200;R:5%;T:1yr

CI=P*T*R/100

=1200*5*1/100

=12*5

=60

A=P+I=1200+60=1260

For 2nd yr

P:1260;R:5%;T:1yr

CI=P*T*R/100

=1260*5*1/100

=126*5*1/10

=126*1/2

=126/2

=63

A=P+I=1260+63=1323

For 3rd yr

P:1323;T:1yr;R:5%

CI=P*T*R/100

=1323*5*1/100

=1323*1/20

=1323/20

=66.15

A=P+I=1323+66.15=1389.15

CI=Final Amount-Original Price

=1389.15-1200

=189.15