Question

Find the compound interst at the rate 5%for three years on the principal which is the amount in three years at the rate 5% per annum gives ₹12000 as simple interest​

Answer 1

Answer:

Step-by-step explanation:

P=SI×100/RT  

According to the given values, we have:

P = 12000×100/5×3 = 80000

The principal is to be compounded annually.

So, A = P(1+R/100)n

A = 80000(1+5/100)3

A = 80000(1.05)3 => A = Rs 92610

Now, CI = A – P = 92610 – 80000 = Rs 12610

Thus, the required compound interest is Rs 12610.

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