Question

Find the amount and compound interest on the sum of rupees 8000 at 5% per annum for 3 years compound annually

Answer 1

A=P(100+R/100) raise to the power T
=8000 X 105 X 105 X 105 / 1000000
= 9261

CI = A–P
= 9261–8000
= 1261

Answer 2

Step-by-step explanation:

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

=8000(1+5/100)³

=8000(100+5/100)³

=8000×105/100×105/100×105/100

=₹9261