Question

find the total amount you will get at the end of 2 years if your principal
amount of Rs 3000 and the interest rate is 5% per annum.
Total amount = Rs
Interest = Rs​

Answer 1

Answer:. Rs 3307.5

Step-by-step explanation

Given,

Principal = Rs 3000

Rate = 5%

Time = 2 years

Therefore, A/q

Amount = p ( 1 + r/100 )^ t

= 3000 × ( 1 + 5/100 )^ 2

= 3000 × 105/100 × 105/100

= Rs 3307.5

Therefore, Amount = Rs 3307.5

Now,

Compound Interest = A - P

= Rs 3307.5 - Rs 3000

= Rs 307.5

Therefore, Interest is Rs 307.5

Thank u

I hope you like it