Question

find the amount if P=500,R=8 p.c.p.a and N=3 years​

Answer 1

Answer:

S. I. = P*R*T÷100

= 500*8*3÷100

= 5*8*3

=120

Amount = p+s.i.

= 500+120

=620

Answer 2

Answer:

The amount is Rs. 629.86.

Step-by-step explanation:

The amount for the sum P at the end of n years compounded annually for r% p.a. is:

$A=P[1+\frac{r}{100} ]^{n}$

Given:

P = Rs. 500

r = 8%

n = 3 years

Compute the amount as follows:

$A=P[1+\frac{r}{100} ]^{n}\\=500\times[1+\frac{8}{100} ]^{3}\\=500\times1.259712\\=629.856$

Thus, the amount is Rs. 629.86.