Question

find the amount and the compound interest on rupees 12,000 in 3 years at 5%; interest being compounded anually

Answer 1

Answer:

CI=p(1+r/100)^n-p

p=rs.12000

n/time period= 3yrs

rate of interest=5%

12000(1+5/100)^3

12000(105/100)^3

12000(1.05)^3

12000*1.157625

12*1157.625=13,891.50(amount)

amount - principal = ci

13,891.50-12000= rs1,891.50

hope this helps you:)

Step-by-step explanation: