Question

find the compound interest for rupees 6000 at the rate of 10% for 3 year​

Answer 1

Answer:

Rate of interest = 10% per annum

Principal for the first year = Rs 6000

Interest for the first year = Rs (6000 × 10 × 1) / 100

= Rs 600

Amount at the end of first year = Rs 6000 + Rs 600

= Rs 6600

Principal for the second year = Rs 6600

Interest for the second year = Rs (6600 × 10 × 1) / 100

= Rs 660

Amount for the second year = Rs 6600 + Rs 660

= Rs 7260

Therefore, compound interest for 2 years = final amount – (original) Principal

= Rs 7260 – Rs 6000

We get,

= Rs 1260

Answer 2

Answer:

Hence , the compound interest for rupees 6000 at the rate of 10% for 3 year​ is 1,986

Step-by-step explanation:

Given:

Principle = p = 6,000

Rate of interest = 10%

Time = 3 yrs

$CI = p[(1+i)^n-1]$

$CI = 6,000[(1+0.1)^3-1]$

$CI = 6,000[(1.1)^3-1]$

$CI = 6,000 * 0.331$

$CI = 1,986$

Hence , the compound interest for rupees 6000 at the rate of 10% for 3 year​ is 1,986