Question

Find the compound interest
on Rs. 40,000 in 3 years
at 7% p.a.​

Answer 1

$\blue{\bold{\underline{\underline{Answer:}}}}$

$\green{\tt{\therefore{Compound\:Interest=9001.72\:rupees}}}$

$\orange{\bold{\underline{\underline{Step-by-step\:explanation:}}}}$

$\green{\underline \bold{Given :}} \\ \tt: \implies Principal(p) = 40000 \\ \\ \tt: \implies Time(t) = 3 \: years \\ \\ \tt: \implies Rate\%(r) = 7\% \\ \\ \red{\underline \bold{To \: Find :}} \\ \tt: \implies Compound \: Interest = ?$

• According to given question :

$\bold{As \: we \: know \: that} \\ \tt: \implies A = p(1 + \frac{r}{100} )^{t} \\ \\ \tt: \implies A = 40000 \times (1 + \frac{7}{100} ) ^{3} \\ \\ \tt: \implies A= 40000 \times (1 + 0.07)^{3} \\ \\ \tt: \implies A =40000 \times (1.07) ^{3} \\ \\ \tt: \implies A = 40000 \times 1.225043 \\ \\ \green{\tt: \implies A =49001.72 \: rupees} \\ \\ \bold{For \: Compound \: Interest } \\ \tt: \implies C.I =A - p \\ \\ \tt: \implies C.I = 49001.72 - 40000 \\ \\ \green{\tt: \implies C.I=9001.72 \: rupees}$