Question

find the compound interest on Rs20000 for 3years at 15% per annum

Answer 1

P=Rs 20000
r=15%
n= 3 years
A= P(1 + r/100)n
A= Rs 20000(1 + 15/100)3
A= Rs 20000(1 + 3/20)3
A= Rs 20000(23/20)3
A= Rs 20000× 23/20× 23/20× 23/20
A= Rs 20000× 12167/8000
A= Rs 30417.5
compound interest= Amount - Principal
C.I. = Rs 30417.5 - Rs 20000
C.I. = Rs 10417.5