Question

Nupur bought a coloured T.V. set for RS.20000. If the shopkeeper charges interest at 15% per annum compounded annually, what C.I. will she pay after 3 years. THE ANSWER IS RS.10417.50 ​

Answer 1

Principal = 20,000

Rate= 15%

Time= 3years

C.I.= P[{ 1 + R/100}²-1]

C.I= P [{1+ 15/100}³-1]

C.I= P [{115/100}³-1]

C.I= P[{23/20}³-1]

C.I= P [{539/400} -1]

C.I= P [(529/400)/400]

C.I= P [129/400]

C.I= 20,000 [129/400]

C.I= 50 × 129

C.I= 6450

Compound Interest is Rps.6450

Hope it helps...^_^