Question

find the interest paid by a borrower after a period of three years on a loan of 2000at 10%per annum,interest being compounded annually

Answer 1

p=2000
R=10%
T=3years
Amount=P(1+R/100)power3
=2000(1+10/100)power3
=2000(110/100) power3
=2000(11/10) power 3
=2000×1331/1000
=2661
now
amount=2661
C.I.= A-P
=2661-2000
=661

Answer 2

Answer:

rs 662

Step-by-step explanation:

P= rs 2000

R= 10 percent

T= 3 years

by solving with simple interest one by one.........

1st year -- 2000×10×1/100

interest is 200rs

amount is 2200 rs

2nd year -- 2200×10×1/100

interest is rs 220

amount is rs 2420

3rd year -- 2420×10×1/100

interest is rs 242

amount is rs 2662

Total interest after 3 years is...

2662-2000=rs 662