Question

find the compound interest at Rs 3000 rate 5% per annum tine 2 years

Answer 1

(i) A = 3000(1+5100)2 = 3000(1.05)2 = Rs 3307.5

Now, CI = A – P = Rs 3307.50 – Rs 3000 = Rs. 307.50

Answer 2

Compound interset is 307.5

Step-by-step explanation:

Given;

Principal, p = Rs.3000

Rate, r  = 5 %

Time, t = 2 years

We know that,

Amount, $A = p\times \left ( 1 + \frac{r}{100} \right )^t$

$A = 3000 \times \left ( 1 + \frac{5}{100} \right )^2$

$A = 3000\times \left ( 1 + \frac{1}{20} \right )^2$

$A = 3000 \times \left (\frac{ 21 + 1}{20} \right )^2$

A = $\frac{3000\times 21 \times 21}{20\times 20}$

A = $\frac{1323000}{400}$

A = 3307.5

Then , compound interset = 3307.5 - 3000

= 307.5

Compound interset is 307.5