Question

Find the amount and compound interest on ₹5000 at the rate of 8% for 3 years

Answer 1

Answer:

A= p(1+r)^3

A=5000(1+8/100)^3

=5000×108/100×108/100×108/100

=108×54×27/25

=157464/25

=6298.56

then,

CI= 6298.56 - 5000

=1298.56