Question

find the compound interest on Rs. 30000 at 7% per annum for three years

Answer 1

Hey Friend

Here is Your Answer

U have to find Compound interest

A.T.Q
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Interest in 1st year is 30000×7×1÷100=2100
Total Amount in first year =Rs30000+2100
=Rs32100
Principal for second year =32100
Interest in 2nd year is 32100×6×1÷100
=1926
Total Amount in 2nd year is 32100+1926
=34026
Principal for third year =34026
Interest in 3rd year is 34026×6×1÷100
=2041.56
Total Amount in 3rd year is 34026+2041.56
=36067.56
Compound interest =Final Amount - (Original)Principal
=36067.56-30000
=Rs6067.56(Answer)

Hope It will correct answer