Question

Mahesh invests Rs.3000 for 3 years at rate of 10th p. a. Compound interest.Find the amount and the compound interest that Makesh will get after 3 years.​

Answer 1

Given that:

• Mahesh invests Rs. 3000 for 3 years at rate of 10% p.a. at compound interest.

To Find:

• The amount and the compound interest that Mahesh will get after 3 years.

Formula used:

In compound interest.

• A = P(1 + R/100)ᵀ
• C.I. = A - P

Where,

• A = Amount
• P = Principal
• R = Rate of interest
• T = Time
• C.I. = Compound interest

Finding the amount:

↠ A = 3000(1 + 10/100)³

↠ A = 3000(1 + 0.1)³

↠ A = 3000(1.1)³

↠ A = 3000(1.331)

↠ A = 3993

∴ Amount = Rs. 3993

Finding the compound interest:

↠ C.I. = A - P

↠ C.I. = 3993 - 3000

↠ C.I. = 993

∴ Compound interest = Rs. 993

Hence,

After 3 years Mahesh will get the,

• Amount = Rs. 3993
• Compound interest = Rs. 993

Answer 2

Given : Mahesh invests Rs.3000 for 3 years at rate of 10th p. a. Compound interest.Find the amount and the compound interest that Makesh will get after 3 years.

Solution : According to the question, Mahesh invests ₹3000 for 3 years at 10% p.a. Compound Interest. We need to find the amount and the compound Interest after 3 yrs.

★ Formula Used :

$\odot \quad \underline{\boxed{ \green{ \tt{A = P(1 +} \sf{\frac{r}{100})}^{n}}}}$

Now, getting the amount and compound Interest

$\leadsto \tt{A = P(1 +} \sf{\frac{r}{100})}^{n} \\ \\ \leadsto\tt{A = 3000(1 +} \sf{\frac{10}{100})}^{3} \\ \\ \leadsto\tt{A = 3000(1 +} \sf{\frac{1}{10})}^{3} \\ \\ \leadsto\tt{A = 3000( \frac{11}{10} )}^{3} \\ \\ \leadsto\tt{A = 3000 \times \frac{1331}{1000}} \\ \\ \star \quad \underline{ \blue{\tt{A} = 3993}}$

Hence, the amount is ₹3993

Getting the compound Interest

$: \implies \sf{Compound \: Interest = Amount - Principal} \\ \\ : \implies \sf{Compound \: Interest =3993 - 3000} \\ \\ \star \quad \underline{ \blue{\frak{Compound \: Interest =993}}}$

The compound Interest is ₹993 after 3 years