Question

find the compound interest at the rate of 5% for three years on that principal which in 3 years at the rate of 5% per annum gives rs.3000 as simple interest

Answer 1

Answer:

Step-by-step explanation:Principal =P =₹3000. Rate= r= % p.a. Time =t=2 years . Compound Interest=P(1+r/100)^2 -P . So compound Interest obtained =3000(1+5/100)^2 -3000 =3000(1.1025) -3000=3000(1.1025-1)=

3000(0.1025) =₹307.50