Question

Find the Compound Interest on Rs.10,000 for 3years at 10% per annum compounded annually.​

Answer 1

Step-by-step explanation:

Given,

Principal (P)=Rs 10,000

Rate (R)= 10%

Time (T)=3 years

Compound interest (I)=?

As we know,

Compound interest= P[ (1+R/100)^T -1]

= 10,000[(1+10/100)^3 -1]

= 10,000×[(1.1)³-1]

=10,000×0.331

=Rs 3310

therefore, compound interest is Rs 3310

Note:- Deeply sorry for the previous wrong answer ,I have just corrected this one....hope you will understand!!

Answer 2

Answer:

3310

Step-by-step explanation:

Given:

Present value =₹ 10000

Interest rate =10% per annum

Time =3 years

To find the amount we have the formula,

Amount (A)=P(1+(r/100))

n

where P is present value, r is rate of interest, n is time in years

Now substituting the values in above formula we get,

∴A=10000(1+10/100)

3

⇒A=10000(11/10)

3

⇒A=121(10)(11)

⇒A=1331(10

⇒A=₹ 13310

∴ Compound interest =A–P

=13310–10000=₹ 3310