Question

Find the compound interest on 3600
at 10% p.a. for 3 years, compounded annually.​

Answer 1

Answer:

Step-by-step explanation:

Given - Principal = 3600

Rate of interest = 10%

Years (N) = 3

Amount = P ( 1 + R/100) raised to N

= 3600 (1 + 10/100) raised to 3

= 3600 x 11/10 x 11/10 x 11/10

= 3.6 x 11 x 11 x 11

= 3.6 x 121 x 11

= 3.6 x 1331

= 4791.6

Therefore amount is rs. 4791.6

Compound Interest = amount - Principal

= 4791.6 - 3600

= 1191.6

Therefore compound interest is rs. 1191.6

Answer 2

Answer:

4791

Step-by-step explanation:

FV = PV × (1+r)^n

where,

FV = Future Value

PV = Present Value

r = annual interest rate

n = number of periods

here,

PV = 3600

r = 10%

n = 3

$3600 \times {(1 + \frac{10}{100} )}^{3} \\ \\ 3600 \times ({1.1})^{3} \\ \\ 3600 \times 1.331 \\ \\ 4791.6$