Question

find the compound interest on Rs 5000 at 6% per annum forb3 years compounded annually?

Answer 1

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Here is your answer.
P = Rs 5000
R = 6% p.a
T = 3 years
n = 3 as Compounded annually

As we know the formula
A = P(1+R/100)^n
$= 5000 \times (1 + \frac{6}{100} ) {}^{3} \\ \\ = 5000 \times (1 + \frac{3}{50} ) {}^{3} \\ \\ = 5000 \times ( \frac{50 + 3}{50} ) {}^{3} \\ \\ = 5000 \times ( \frac{53}{50} ) {}^{3} \\ \\ = \frac{5000 \times 53 \times 53 \times 53}{50 \times 50 \times 50} \\ \\ = 5955.08$
Amount = Rs 5955.08

CI = A - P
= 5955.08 - 5000
= 955.08
Therefore Compound interest is Rs 955.08

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Answer 2

Answer:

Here is your answer.

P = Rs 5000

R = 6% p.a

T = 3 years

n = 3 as Compounded annually

As we know the formula

A = P(1+R/100)^n

\begin{gathered} = 5000 \times (1 + \frac{6}{100} ) {}^{3} \\ \\ = 5000 \times (1 + \frac{3}{50} ) {}^{3} \\ \\ = 5000 \times ( \frac{50 + 3}{50} ) {}^{3} \\ \\ = 5000 \times ( \frac{53}{50} ) {}^{3} \\ \\ = \frac{5000 \times 53 \times 53 \times 53}{50 \times 50 \times 50} \\ \\ = 5955.08\end{gathered}

=5000×(1+

100

6

)

3

=5000×(1+

50

3

)

3

=5000×(

50

50+3

)

3

=5000×(

50

53

)

3

=

50×50×50

5000×53×53×53

=5955.08

Amount = Rs 5955.08

CI = A - P

= 5955.08 - 5000

= 955.08

Therefore Compound interest is Rs 955.08