Question

Mahesh Invest ₹ 3000 for 3 years at the rate of 10% p.a. compound interest. find the amount and the compound interest that Mahesh will get after 3years​

Answer 1

Answer:

principle= Rs. 3000

rate= 10%

time=3 years

Amount=p(1+R/100)^time

= Rs. 3000× (1+10/100)^3

=Rs.3000×11/10×11/10×11/10

= Rs. 3×11×11×11

=Rs. 3×1331

= Rs.3993

Compound interest=Amount-principle

=Rs. 3993-Rs. 3000

=Rs. 993

thus, compound interest for 3 years will be= Rs.993× 3= 2979