find the amount and the compound interest on rupees 16000 for 3years at 5% per annul compounded annually
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Amount= Principal( 1+ r/100)^n
A = Rs 16000×(1+5/100)^3
A = Rs 16000× 105/100 × 105/100×105/100
A = Rs 16×10.5×10.5×10.5
A = Rs 18522
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Amount= Principal( 1+ r/100)^n
A = Rs 16000×(1+5/100)^3
A = Rs 16000× 105/100 × 105/100×105/100
A = Rs 16×10.5×10.5×10.5
A = Rs 18522
☺☺☺
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