Question

Find the amount of rs. 2000 for 3years compound annualy at 5% per annum . Also find the compound interest

Answer 1

Step-by-step explanation:

given that :

principal = 2000rs

time = 3years

rate = 5%

then according to questions:-

$a = p(1 + \frac{r}{100} ) {}^{t} \\ \\ = 2000(1 + \frac{5}{100}) {}^{3} \\ \\ = 2000(1 + \frac{1}{20} ) {}^{3} \\ \\ = 2000( \frac{20 + 1}{20} ) {}^{3} \\ \\ = 2000( \frac{21}{20}) {}^{3} \\ \\ = 2000 \times \frac{21}{20} \times \frac{21}{20} \times \frac{21}{20} \\ \\ = 21 \times \frac{21}{2} \times \frac{21}{2} \\ \\ = \frac{21 \times 21 \times 21}{4} \\ \\ = \frac{9261}{4} \\ \\a = 2315.25 \\ \\ to \: find \: the \: compound \: interest \\ \\ compound \: interest \: = amount \: - principal \\ \\ = 2315 .25 - 2000 \\ \\ = 315.25 \\ \\ compound \: interest \: = 315.25$