Find the amount and the compound interest rs 300 at 3% per annum for 2 years
Answers
Answered by
9
Answer:
CI=P(I +r/100)n-P
= 300 (I +3/100)^2-300
= 300x1.03x1.03 -300
= Rs 18.27. Ans
Answered by
24
Rs 318.27 amount & CI = 18.27 for rs 300 at 3% per annum for 2 years
Step-by-step explanation:
Principle = P = 200
Rate of interest = R = 3% per annum
Time = n = 2 Years
Formula for Amount = A
A = P (1 + R/100)ⁿ
=> A = 300 ( 1 + 3/100)²
=> A = 300 ( 1.03)²
=> A = 318.27
Amount = Rs 318.27
Compound interest = Amount - Principle
=> Compound interest = 318.27 - 300 = 18.27
Compound interest = 18.27
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