Question

find the amount and the compound interest on rupees 15000 for 3 years at 10% per annum compounded annually

Answer 1

P= rs15000
rate of interest= 10%per annum
time( n)= 2 years
amount= P[1+ R/100] power n
= 15000[1+10/100] power 2
= 18150
com interest= A- P
= 18150-15000
= rs.13150

Answer 2

${\huge{\underline{\underline{\sf{\blue{Solution:-}}}}}}$

We know that the amount A at the end of n years at the rate of R% per annum when the interest is compounded annually is given by

$A \: = \: P \: \: (1 \: + \: \frac{R}{100} )^{n}$

Here , Principal (P) = ₹ 15000, R = 10 % p.a and n = 3 years .

Therefore, amount (A) after 3 years

$= ₹ 15000\: (1 \: + \: \frac{10}{100} )^{3}$

$= \: ₹ 15000\: ( \frac{11}{10} )^{3}$

$= \: ₹ 15000 \: \times \: \frac{11}{10} \: \times \frac{11}{10} \times \: \frac{11}{10} \: = \: ₹ \: 19965$

Now, compound interest

= Amount (A) - Principal (P)

= ₹ 19965 - ₹ 15000 = ₹ 4965

Thus, the required compound interest is ₹ 4965