Find the amount and the compound interest when principal is 3000, rate 5%per annum and time is 2 years.
Answers
Answered by
0
Compound interest , C is given by r = rate, P = principle, n = time
C=P[(1+r)
n
−1]
=3000[(1+
100
5
)
2
−1]
=3000(1+
10000
25
+
100
10
−1)
=30(
100
25
+10)⇒30(10+
4
1
)
=30(
10
41
)
C=Rs.123.
C=P[(1+r)
n
−1]
=3000[(1+
100
5
)
2
−1]
=3000(1+
10000
25
+
100
10
−1)
=30(
100
25
+10)⇒30(10+
4
1
)
=30(
10
41
)
C=Rs.123.
Similar questions