Question

find the compound interest on 25000 @ 12% per annum for 3 years by not using formula​

Answer 1

Answer:

A = $ 35,123.20

A = P + I where

P (principal) = $ 25,000.00

I (interest) = $ 10,123.20

Answer 2

Answer:

interest for 1st year will be 25000*12/100=3000

principal for 2nd year p+I

25000+3000=28000

interest for 2nd year 28000*12/100

=3360

principal for 3year=P2+I2

28000+3360=31360

interest=31360*12/100=3763.20

amount=P3+I3=31360+3763.20=35123.20