Question

Find the compound interest on a sum of RS 16435 at 5% p.a for 3 years compounded annually

Answer 1

hey buddy ...♥

Given,

P=16435

T=3 years

R=5%p.a.

Amount=P×(1+R/100)^T

=16435(1+5/100)^3

=16435×21×21×21/20×20×20

=19025.5669

=19025.56

so...

compound interest=amount-P

=19025.56-16435

= 2590.56

Answer 2

Answer:

Step-by-step explanation:

Hey there! ☺☻☺

♣ Interest and Compound Interest ♣

Given,

Principal (P)= Rs. 16435

Rate (r) = 5%

Time(n) = 3 years

We know,

Amount = P(1+r/100)^n

             = 16435(1+5/100)^3

             = 16435* 21/20 * 21/20 *21/20

             = 19025.566875 Rs.

Now,

C.I = A - P

    =  19025.56 - 16435

    =  Rs. 2590

Hope It Helps You