Question

find the compound interest on Rs 5000 at 6% per annum for 3 years compounded annually

Answer 1

5000 multiply 6%
$5000 \times 6 \div 100 =$

Answer 2

Answer:

The interest is 955.08 rupees.

Step-by-step explanation:

Given,

Principal amount, P = 5000 rupees,

Annual rate, r = 6%,

Time, t = 3 years

Hence, the amount of compound interest,

$I=P(1+\frac{r}{100})^3-P$

$=5000(1+\frac{6}{100})^3-5000$

$=5000(1+0.06)^3-5000$

$=5000(1.06)^3-5000$

$=5955.08-5000$

= 955.08 rupees,

Learn more :

Similar questions :

https://brainly.in/question/5076850

https://brainly.in/question/7341555