Question

Find the compound interest in each of the following using the formulae:
(a) Principal= ₹ 4,000, Rate=6%, Time=3 years

Answer 1

Answer:

Principal=4000. Rate of interest in decimals = 6% =0.06. Time = 3 years. Formula: Where. A= Amount. P = principal. r = rate of interest. t = time. So, A=4764.064. Compound interest = Amount - Principal = 4764.064 -4000 = Rs.764.064.

I hope this answer is helpfull