Question

If P=3000 , r=6% , n=5 then?

Answer 1

Step-by-step explanation:

Given :

Principal (P) = ₹3000

Rate (r) = 6%

Period or time (n) = 5 years

Find :

Amount and Compound interest.

Solution :

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

$\: \: \: \: 3000(1 + \frac{6}{100} ) ^{5}$

$= > 3000( \frac{106}{100} ) ^{5}$

$= > 3000 \times \frac{106}{100} \times \frac{106}{100} \times \frac{106}{100} \times \frac{106}{100} \times \frac{106}{100}$

$= > 4014.67$

C.P. = A - P

=> ₹4014.67 - ₹3000

=> ₹1014.67

Hence :

The amount is ₹4014.67 and compound interest is ₹3000.

Answer 2

Step-by-step explanation:

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