Find the compound interest on ₹1200 at 5% pa for 3 years
Answers
Answered by
1
Answer:
Compound interest is 1323
Step-by-step explanation:
Formula is-A=P{1+R/100}
A=1200{1+5/100}3
A=1200{1+20}3
A=1200{21/20}3
=1200×21×21/20×20
=529200/400
=1323
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Answered by
0
Answer:
interest for 1st year =PxRxT/100
1200×5x1/100
=60
1200+60=1260
interest for 2nd year =1260 ×5×1/100
=63
1260+63=1323
interest for 3rd year =1323×5×1/100
=66.15
amount at the end of the 3rd year 1323+66.15= 1389.15
CI = 1389.15 -1200
=189.15
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