Question

find the amount and the compounded interest on 12000 in 3 years at 5% interest being compounded annually
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Answer 1

Step-by-step explanation:

A = P(1+(R/100)ñ

A = 12000(1+(5/100)³)

A = 12000× 21/20×21/20×21/20

A= 12000× 9261/8000

A= 1.5 ×9261

A= 13891.5 Rs

CI = A-P

= 13891.5 - 12000

= 1891.5 Rs