Question

find the amount and compound interest on 3500at 20% for 3years.​

Answer 1

Answer:

$p = 3500 \\ r = 20\% \\ t = 3years$

$amount = \: p (1 + \frac{r}{100} )^{n}$

$3500(1 + \frac{20}{100} )^{3}$

$3500( \frac{100 + 20}{100} )^{3}$

$3500( \frac{120}{100} )^{3}$

$3500 \times \frac{6}{5} \times \frac{6}{5} \times \frac{6}{5}$

$3500 \times \frac{216}{125}$

$28 \times \frac{216}{1}$

$= 6048 \: (amount)$

$compound \: interest \: = amount - principal$

$6048 - 3500$

$= 2548(c.i)$

Amount = 6048

C.I = 2548