Question

find the compound interest on rupees 3000 at 5% per annum for 2 years

Answer 1

Amount=3000(1+5/100) raise to the power 2
=3000(105/100)raise to the power 2
=3000*105/100*105/100
=3307.5
So,Compound Interest=3307.5-3000
=307.5 Ans.