Question

Find the amount and compound interest on Rs 8000 at 5% p.a compound interest for 3 years

Answer 1

Answer:

ci = 1261

a = 9261

Step-by-step explanation:

principal= 8000

rate= 5%

time= 3 years

a= p(1+r/100)^n

  =8000(1+5/100)^3

  =8000(20+1/20)^3

  =8000(21/20)^3

  =8000(9261/8000)

  =9261

ci= a-p

  =9261-8000

  =1261