Question

find the amount when the compounded annually is P=2000 r=10%p.a n=3yrs plzz solve this sum in copy​

Answer 1

Question -

Find the amount when compound annually is Principal (P) =₹2000,Rate(r) =10% per annum and number of years(n) = 3 years

Solution -

Here,

Principal (P) =₹2000

Rate (r) =10%p.a

Number of years (n) =3 years

We know that,

$Amount = P(1 + \frac{r}{100} ) {}^{n}$

$Amount = 2000(1 + \frac{10}{100} ) {}^{3}$

$Amount = 2000( 1 + \frac{1}{10} ) {}^{3}$

$Amount = 2000( \frac{11}{10} ) {}^{3}$

$Amount = 2000 \times \frac{1331}{1000}$

$Amount = 2 \times 1331$

$Amount = 2662$

Therefore amount is ₹2662