Question

find the compound and compound interest on a sum of rupees 8000 at 5% annum for 3 years compounded annually​

Answer 1

Step by Step-

Calculating Amount -

Let A be Amount

P be the principal

R% be the rate

T be the time

CI be the compound interest

Formula

A=P[(1+R/100)*T]

=8000[(1+5/100)*3]

=8000[(100+5/100)*3]

=8000[(105/100)*3]

=8000[(21/20)*3]. (making it into simplest form

=8000×9261/8000

=9261 rupees

Now,CI=A-P

CI=9261-8000rupees

CI=1261rupees

Hope it helps you