Question

Find the amount and compound interest on 8000, compounded annually, the rate of interest being 5%, 10% and 15% respectively for 3 successive years.
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Answer 1

Answer:

Step-by-step explanation:

Here, P= Rs. 8000,R=10% per annum and n=3 years

Using the formula,A=P(1+R/100)$.^{n}$

Amount after 3 years=8000*(1+10/100)$.^{3}$

=8000*11/5*11/10*11/15

=26329.6

Thus, amount after 3 years = Rs. 1648.

And compound interest = Rs. (26329.6−8000)=18329.6

Answer 2

p=8000

r=10%

T=3years

• amount =8000(1+10/100)3
• thus amount of 3years = 1648 and compound interest=(26329.6-8000) =18329.6