Question

i solved the whole solution and it's correct but I can't get the fourth one..i know the conecpt and how to do it but the answer is not coming..i used a calculator but it's no good...plz help in fourth part (btw answers for fourth part is 3177.60 but I got 3293.76)

Answer 1

Given P = 9600, R = 10%, n = 3 years.

We know that A = P(1 + r/100)^n

                            = 9600(1 + 10/100)^3

                            = 9600(11/10)^3

                            = 9600(1331/1000)

                            = 9600 * 1.331

                            = 12777.6.


We know that CI = A - P

                            = 12777.6 - 9600

                            = 3177.6.


Therefore the compound interest at the end of 3 years = 3177.6.


Hope this helps!