Question

find the compound interest when principal =2000 rate =20%per annum and time 3 years ​

Answer 1

Step-by-step explanation:

Given, P = Rs 2000, rate = 20%, time = 3years

A = P (1 + R/100)n

Substituting the values we have, 

= 2000 (1 + 20/100)3

= 2000 (120/100)3

= Rs 8000

Solving for Compound Interest, we get 

Compound interest (CI) = A-P = Rs 8000– 2000 = Rs 4000