Question

find the compound interest on Rs 16000 for 3 years at 5% per annum C.I

Answer 1

P=₹16000 T=3years R=5%
A=P{1+r/100}^n
A= 16000{1+5/100}^3
A= 16000{1+1/20}^3
A= 16000×(21/20)^3
A= 16000×21/20×21/20×21/20
A=₹18522
C.I = Amount - Principle
C.I= ₹18522- ₹16000
C.I=₹2522

Answer 2

p = rs 16000
t = 3 yrs
r = 5%
amount = P{1+R/100}t
so 16000{1+ 5 /100}3
16000{500}3
16000{1500}
24000000 amount
i not sure