Question

Find the compound interest when principal = 50,000, rate = 10% p.a. and time = 3 years. Find the amount payable at the end of 3 years.

Answer 1

Step-by-step explanation:

Given,

Principal= 50000

Time=3 years

Rate=10%

Interest=?

We know,

Interest=Principal x Time x Rate

= 50000 x 3 x _10_

100

= 15000

So, The Amount will be=(Interest+Principal)

= 15000+50000

= 65000

Answer: 65000