Question

find the amount and compound interest on a sum of rs 15000 at 6% per annum for 3 years compounded annually.​

Answer 1

QUESTION:

• find the amount and compound interest on a sum of rs 15000 at 6% per annum for 3 years compounded annually.

ANSWER:

• CI = Rs 2865.24

• Amount= Rs 17865.24

SOLUTION:

PRINCIPAL = RS 15000

RATE= 6%

N = 3 YRS

WE KNOW THAT,

$\\ \\ \\ amt = p {(1 + \frac{r}{100} })^{n} \\ \\ \\ \\ 15000 {(1 + \frac{6}{100} })^{3} \\ \\ \\ \\ = \frac{15000 \times 106 \times 106 \times 106}{100 \times 100 \times 100} \\ \\ \\ \\ = rs \: \: \: \frac{446631}{25} \\ \\ \\ \\ amt \: = rs \: \: (17865.24 - 15000) \\ \\ \\ \\ = rs \: \: 2865.24 \: \: answer$