Question

Find the compound interest on the sum of ₹15000 at the rate 12% per annum for 3 years.
⠀⠀⠀⠀(Answer :- ₹6073.92)


⠀⠀⠀⠀⠀No spamming ! :)​

Answer 1

Answer:

HELLO!!

ANSWER:

Compound interest = ₹6073.92

EXPLANATION:

GIVEN:

Principal (P) = ₹15000

Rate of interest (r) = 12% p.a.

Time (n) = 3 years

TO FIND:

Compound interest

SOLUTION:

AMOUNT (A)= P ( 1 + r/100)³

A= 15000 (1 + 12/100)³

A= 15000( 1 + 0.12)³

A= 15000 (1.12)³

A= 15000 (1.404928)

A= ₹21073.92

COMPOUND INTEREST (CI)= A-P

CI = ₹21073.92 - 15000

CI = ₹6073.92

HOPE IT HELPS YOU!!

Answer 2

Answer:

The compound interest is ₹6073.92.

Given:

• Principal (P) = ₹15000
• Rate of interest (r) = 12% per annum.
• Time (n) = 3 years.

To find:

• The compound interest.

Solution:

Using the formula,

Amount (A) = P (1 + r/100)³

Where,

• A = Amount.
• P = Principal
• r = rate per annum.

=> A = 15000 (1 + 12/100)³

=> A = 15000 (1 + 0.12)2³

=> A = 15000 (0.12)³

=> A = 15000 (1.404928)

=> A = ₹21073.92

Now,

CI = A - P

Where,

• CI = Compound Interest.
• A = Amount.
• P = Principal.

=> CI = ₹21073.92 - ₹15000

=> Compund interest, CI = ₹6073.92

∴ Compound interest of the sum of ₹15000 at the rate of 12% per annum for 3 years is ₹6073.92.