Question

Find the compound interest on 5000 for 3 years at 10% per annum. do explain your answer don't spam​

Answer 1

$\huge \fbox \pink{✯ANSWER:}$

$\fbox \blue{Given:}$

• Principal(P) = Rs. 5000
• Time = 3 years
• Rate = 10%

$\fbox \red{Formula used:}$

Compound interest(C.I) =

$P[1 + (\frac{R}{100})^{n} - 1]$

Where, P = principal

R = rate in percentage

n = number of year.

$\fbox \orange{Calculation:}$

Compound interest = 5000[{1 + (10/100)}3 - 1]

⇒ C.I = $5000 [(\frac{11}{13})^{3} - 1]$

⇒ C.I = $5000 [\frac{1331}{1000} - 1]$

⇒ C.I = $5000 [\frac {1331 - 1000}{1000} - 1]$

⇒ C.I = $5 × 331$

⇒ C.I = ₹ 1655

$\fbox \green{∴ Compound interest is Rs. 1655}$