Question

find the simple interest and compound interest on rs 5000 at the rate of 10% p.a. for 3 years

Answer 1

hey here is your answer

principle = 5000 rs
rate = 10%
time = 3 years

simple interest =

$\frac{p \: \times \: r \: \times \: t}{100}$

$\frac{5000 \times 10 \times 3}{100} \\ \\ = 1500 \: rs \:$
compound interest =

$p \: (1 + \frac{r}{100} {)}^{t} - p \\ \\ = 5000(1 + \frac{10}{100} {)}^{3} - 5000 \\ \\ = 5000 \times ( \frac{110}{100} {)}^{3} - 5000 \\ \\ = 5000 \times \frac{110}{100} \times \frac{110}{100} \times \frac{110} {100} - 5000\\ \\ = 6655 - 5000 \\ \\ = 1655 \: rs$
hope this helps you
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Answer 2

The given question is find the simple interest and compound interest on rs 5000 at the rate of 10% p.a. for 3 years

we have to calculate the simple interest and the compound interest.

The given data is principal amount = 5000

rate of interest = 10%.

Time is taken = 3 years.

The formula to find the simple and compound interest is

$simple \: interest \: = \frac{p \times n \times r}{100}$

compound interest

$compound \: interest =p {(1 + \frac{r}{100}) }^{t} - p$

let us substitute the given values in the above formula, we get the value of simple interest as

$\frac{5000 \times 10 \times 3}{100} = 1500$

Therefore, the value of the simple interest is obtained as 1500 Rs.

substituting the values we get the compound interest as the

$5000 {(1 + \frac{10}{100}) }^{3} - 5000 \\ 5000 \times{ ( \frac{110}{100} })^{3} - 5000$

On further proceeding, we get the values as

$5000 \times \frac{110}{100} \times \frac{110}{100} \times \frac{110}{100} - 5000$

$6655 - 5000 = 1655rs$

The value of compound interest os found as 1655.

The simple interest is 1500 and the compound interest is 1655.

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