Navin lent 15.000 to Dinesh for 3 years at the rate of 10% p.a. Find the compound
interest paid by Dinesh.
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Answer:
Rs. 4965
Step-by-step explanation:
Principal = Rs. 15000
Rate = 10%
Time = 3 Years
Amount = 15000 (1 + 10/100)³
= 15000(110/100)³
= 15000 x 110/100 x 110/100 x 110/100
Cancelation
= 15 x 11 x 11 x 11
= Rs. 19,965
Compound Interest = Amount - Principal
= 19965 - 15000
= Rs. 4965
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