Question

Find the amount and the compound interest on rupees 1000 in 3 years at 8% per annum

Answer 1

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Here is your answer
P = Rs 1000
T = 3 years
R = 8% p.a

AS we know that
A = P ( 1+R/100)^t
$=1000(1 + \frac{8}{100} ) {}^{3} \\ = 1000( \frac{108}{100} ) {}^{3} \\ = \frac{1000 \times 108 \times 108 \times 108}{100 \times 100 \times 100} \\ = \frac{108 \times 108 \times 18}{1000} \\ = 1259.71$
So Amount = Rs 1359.71

CI = A - P
= 1259.71 - 1000
= Rs 259.72

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