Question

find the compound interest on ₹26000for 3years at the rate of 10% per annum compounded annually

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Answer 1

★ Provided Question ★

Find the compound interest on ₹26000for 3 years at the rate of 10% per annum compounded annually.

★ Required Solution ★

Given:

• Principal (P) = ₹ 26000

• Time (n) = 3 years

• Rate (R) = 10% p.a

To calculate:

• Compound Interest (C.I)

Calculation:

So, before calculating compound interest, we need to calculate amount. We know that:

• $\boxed { \large \bf { {A = ₹P \Bigg ( 1 + \dfrac {R}{100} \Bigg ) }^{n} }}$

Now, substitute the values:–

$\large \rm { { \implies A = ₹26000 \Bigg (1 + \dfrac {10}{100} \Bigg ) }^{3} }$

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$\large \rm { { \implies A = ₹26000 \Bigg (\dfrac {100+ 10}{100} \Bigg ) }^{3} }$

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$\large \rm { { \implies A = ₹26000 \Bigg (\dfrac {110}{100} \Bigg ) }^{3} }$

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$\large \rm { \implies A = ₹26000 \times \dfrac {11 \cancel{0} }{10 \cancel{0} } \times \dfrac {11 \cancel{0} }{10\cancel{0}} \times \dfrac {11\cancel{0}}{10\cancel{0}} }$

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$\large \rm { \implies A = ₹26\cancel{000} \times \dfrac {11}{1\cancel{0}} \times \dfrac{11}{1 \cancel{0}} \times \dfrac {11}{1 \cancel{0}} }$

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$\large \rm { \implies A = ₹(26 \times 11 \times 11 \times 11)}$

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$\large \rm { \implies A = ₹(26 \times 1331)}$

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$\large \rm \purple { \implies A = ₹34,606}$

Now, we also know that,

• $\boxed { \large \bf { C. I = Amount -Principal}}$

Substitute the values:

$\large \rm { \implies C. I= ₹(34,606-26,000)}$

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$\large \rm \red { \implies C. I= ₹8,606}$ (Ans....)

Therefore,the compound interest is ₹8,606.

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