Question

Find the compound interest on Rs5000 for 3 years at 10% per annum compounded annually.

Answer 1

Answer:1655

1. (CI)=p(1+r/100$)^{n}$-p
2. 5000(1+10/100$)^{3}$-5000
3. 5000(110/100$)^{3}$-5000
4. 5000(110/100x110/100x110/100)-5000
5. =6655-5000
6. =1655.-Answer.