Question

Hey!!!

Good Afternoon ☺

Please solve the following question


Rohit deposited Rs 8000 with a finance company for 3 years at an interest of 15% per annum .What is the compound interest that Rohit gets after 3 years?

Answer 1

Hiii dear good afternoon here is your answer


We know that amount A at the end of n years at the rate of R% per annum is given by = A = P(1+R100)n

Given:

P = Rs 8,000

R = 15% p.a.

n = 3 years.

Now,

A = 8000(1+15100)3

A = 8000(115100)3

A = Rs. 12,167

And, CI = A – P = Rs 12,167 – Rs 8,000 = Rs 4,167





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