Find the compound interest for RS 3000 at the rate of 5% per annum compounded annually
Answers
Answered by
4
Hey sup!
Principal (p)=3000.
Rate of interest(r)=5% compounded annually.
Time(n)=1 years.
As per the question,
Amount=p(1+r/100)^n.
=3000(1+5/100)^1.
=3000(105/100).
=30×105.
=3150.
So, compound interest=A-p.
=3150-3000.
=150.
Hope it helps.
Principal (p)=3000.
Rate of interest(r)=5% compounded annually.
Time(n)=1 years.
As per the question,
Amount=p(1+r/100)^n.
=3000(1+5/100)^1.
=3000(105/100).
=30×105.
=3150.
So, compound interest=A-p.
=3150-3000.
=150.
Hope it helps.
Similar questions