Question

Find the amount and compound interest on 60,000 at 15% for 3 years.Principle (P) :- 60000

Rate of interest (R) :- 15%

Time (T):- 3 years

To Find :

Compound interest on the given

sum...

Formula :

PXRXT ÷ 100+ P

Solution :

60000 x 15 x 3

100

+ 60000

60000 x 15 x 3 - 600 x 15 x 3

100

-- 600 x 15 x 3 + 60000

-- 27000 + 60000
--→ 87000



The compound interest is 87000.​

Answer 1

⇒ P = 60000

⇒ R = 15%

⇒ T = 3 yrs

⇒ CI = A-P

A = P (1 + R/100)^T

Amount=60000(1+15/100)^3

⇒ A = 60000(115/100)^3

⇒ A = 60000*115/100*115/100*115/100

⇒ A=6*115*115*115/100=9125250/100=₹91252.5

So, Amount = ₹91252.5

Compound interest = principal-amount

⇒ CI = 91252.5-60000

⇒ CI=31252.5

Hence, Amount is ₹91252.5 and Compund Interest is ₹31252.5.

Answer 2

The answer is already given