Question

find the compound interest on Rs 5000 for 3 years at 5%

Answer 1

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Answer 2

▶▶▶ Here's your answer

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$<u><b><I>Compound Interest :-</u></b><I>$

Compounding at annually,

Principle = 5000

Rate of interest = 5%

Number of years = 3

Amount = P ( 1 + $\frac{R}{100}$ )^n

= 5000 ( 1 + $\frac{5}{100}$ )^3

= 5000 $\frac{21}{20}$^3

= 5000 $\frac{21}{20}$ $\frac{21}{20}$ $\frac{21}{20}$

= Rs.7717.50

C.I. = 7717.50 - 5000

= Rs.2717.50