Question

Find the amount and the compound interest on Rs12,000 in 3 years at 5% compounded annually.
(using Formula)​

Answer 1

✯Question✯

Find the amount and the compound interest on Rs12,000 in 3 years at 5% compounded annually.

✯Given✯

•p=₹12000

•T=3years

•Rate=5%

✯We know✯

$Amount= p {(1 + \frac{r}{100} ) }^{t}$

Part 1:

☃To find Amount☃

Step By Step Explanation

Step 1:

$➳Amount= 12000 {(1 + \frac{5}{100} ) }^{3}$

Step 2:

$➳Amount= 12000 {(1 + \frac{1}{20} ) }^{3}$

Step 3:

$➳Amount= 12000 {( \frac{21}{20} )}^{2}$

Step 4:

$➳\frac{12000 \times 21 \times 21 \times 21}{20 \times 20 \times 20}$

Step 5:

$➳13891.5✔$

Part 2:

☃To find compound interest☃

✯We know✯

$CI = amount - p$

Step by step explanation:

Step 1:

$➳C.I. =RS 1389150 - Rs 12,000$

Step 2:

$➳C.I= Rs1,891.50✔$

Answer 2

$\huge\sf{\underline{\underline{Given}}}$

• $\mathcal{P = Rs12,000}$
• $\mathcal{T = 3\: years}$
• $\mathcal{Rate\: of\: interest (R)= 5}$%

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$\huge\sf{\underline{\underline{Solution}}}$

Using formulae

$\large{\boxed{Amount = P × (1 + \dfrac{R}{100})^2}}$

⇝ $\bf{Amount = 12,000 × (1 + \dfrac{5}{100})^2}$

⇝ $\bf{Amount = 12,000 × (1 + \dfrac{1}{20})^2}$

⇝ $\bf{Amount = 12,000 × (\dfrac{21}{20})^2}$

⇝ $\bf{Amount = \dfrac{12,000 × 21 × 21}{20 × 20}}$

⇝ $\bf{Amount = Rs13,230}$

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Using formulae

$\large{\boxed{C.I = Amount - P}}$

↪ $\bf{C.I = 13,230 - 12,000}$

↪ $\bf{C.I = Rs1,230}$

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