Question

If you were able to earn compound interest of 10 percent p.a. and you started with 1000 rupees, how much would you have after 3 years?​

Answer 1

Step-by-step explanation:

If you were able to earn compound interest of 10 percent p.a. and you started with 1000 rupees, how much would you have after 3 years

Answer 2

Answer:

The resultant amount after 3 years = 1331 Rs.

Step-by-step explanation:

Given data

given Principal amount P = 1000 Rs

compound interest on R = 10%

                   time period t = 3 years

here we need to find resultant amount after 3 years

the formula for the resultant amount = $P[ 1+ \frac{R}{100} ]^{t}$

                                                             = $1000[ 1 + \frac{10}{100} ]^{3}$

                                                             = $1000 [ \frac{110}{100}]^{3}$

                                                             = $1000(\frac{11}{10} )(\frac{11}{10} )(\frac{11}{10})$

                                                             = 1331 Rs