Question

Find the compound
% per annum
vearly.
Damlal borrowed a sum of 9600 to install a hand pump in his dairy. If the rate of interest is 5
compounded annualy. Determine the interest which Ramlal will have to pay after three years?
Compound Interest​

Answer 1

Answer

15,132 Rs

Step-by-step explanation:

A=P(1+R/100)N

A=96000(1+5/100)3

A=96000+21/20×21/20×21/20

A=111,132

CI=A-P

CI=111,132-96000

CI=15,132