Question

Find the compound interest and amount if interest is compounded annually principal 4000 rate 5% time 3 years

Answer 1

Solutions :-

Given :
Principle = p = Rs 4000
Rate = r = 5% p.a
Time = t = 3 years


Find the Amount (A) :-

We know that,

A = p (1 + r)^t
= 4000 (1 + 5%)³
= 4000 (1 + 0.05)³
= 4000 (1.05)³
= 4000 × 1.157625
= 4630.5


Find the Compound Interest (C.I) :-

C.I = A - p
= Rs (4630.5 - 4000)
= Rs 630.5


Hence,
Amount = Rs 4630.5
Compound Interest = Rs 630.5

Answer 2

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Principal = 4000

Rate = 5%

Time = 3 years

Amount = ?

Interest = ?

As we know Amount = p(1+i)^n

Where, i belongs to r/100

And Interest = Amount - Principal

Now by formula,

A = p(1+i)^n

A = 4000(1+0.05)^3

A = 4000(1.05)^3

A = 4000×1.157625

A = 4630.50

So the Amount is 4630.50

And Now interest = Interest - Principal
4630.50-4000
I = 630.50

So interest is 630.50

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