Question

Find the amount and compound interest on a sum of ₹18000 ay 6% p.a. for 3 years compounded annually ?

Answer 1

p=18000, r=6%,t=3yrs,.

A=P(1+r/100)^3

=> 18000(1+6/100)^3

=> 18000(53/50)^3

=> 18000*53/50*53/50*53/50

=> 21438.28

C.I= A-P

=> 21438.28-18000

=> 3438.28

Hope will help you.