Question

Find the sum borrowed by Suma if she gives an interest of Rs. 7200 for 3 years at 8%p.a.​

Answer 1

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Principal:-7200 Rs.

Time:- 3 years

Rate- 8%

S.I for 1st year =

$\frac{ P\times R\times T}{100} = \frac{7200 \times 1 \times 8}{100}$

= 576 Rs.

Amount at the end of 1st year = 7200+576 = 7776 Rs.

S.I for 2nd year =

$\frac{7776 \times 1 \times 8}{100}$

=622.08 Rs.

Amount at the end of 2nd year = 7776+622.08 = 8398.08 Rs.

S.I for 3rd year =

$\frac{839808 \times 1 \times 8}{100 \times 100}$

= 671.84 Rs.

Amount at the end of 3rd year = 8398.08+671.84 = 9069.92 Rs.

Compound Interest = 9069.92- 7200 = 1869.92

I Tried hope it'll help !