Question

find the compound interest on Rs 8000 at the rate of interest 5% per annum for 3 years by alternative method

Answer 1

Principle = Rs. 8000
Rate = 5%
Time = 3 yrs
So,
Here, A = amount P = principle R = rate T =time
t is the power of (1+r/100)
A = P ( 1 + r/100) t
= 8000(1+5/100) 3
= 8000(1+1/20) 3
= 8000 × 21/20 × 21/20 × 21/20
= Rs. 9261
C.I = A - P
= Rs(9261-8000)
= Rs 1261

I hope it helped u...