P= Rs, 4200, R=7 p.c.p.a, T=3 years I=? A=?
Answers
Question:
Principal = Rs 4200, Rate compound interest = 7% per annum and Time = 3 years. Find the compound interest and amount.
Answer:
- Compound interest = Rs 945
- Amount = Rs 5145
Step-by-step explanation:
Given that:
- Principal = Rs 4200
- Rate interest = 7% p.a.
- Time = 3 years
To Find:
- Compound interest
- Amount
Formula used:
In compound interest.
- A = P(1 + R/100)ᵀ
- CI = A - P
Where,
- A = Amount
- P = Principal
- R = Rate of interest
- T = Time
- CI = Compound interest
Finding the amount:
⟶ A = P(1 + R/100)ᵀ
Substituting the values.
⟶ A = 4200(1 + 7/100)³
⟶ A = 4200(1 + 0.07)³
⟶ A = 4200(1.07)³
⟶ A = 4200 × 1.07 × 1.07 × 1.07
⟶ A = 5145 (approx.)
∴ Amount = Rs 5145
Finding the compound interest:
⟶ CI = A - P
⟶ CI = 5145 - 4200
⟶ CI = 945
∴ Compound interest = Rs 945
Answer:
Question:
Principal = Rs 4200, Rate compound interest = 7% per annum and Time = 3 years. Find the compound interest and amount.
Answer:
Compound interest = Rs 945
Amount = Rs 5145
Step-by-step explanation:
Given that:
Principal = Rs 4200
Rate interest = 7% p.a.
Time = 3 years
To Find:
Compound interest
Amount
Formula used:
In compound interest.
A = P(1 + R/100)ᵀ
CI = A - P
Where,
A = Amount
P = Principal
R = Rate of interest
T = Time
CI = Compound interest
Finding the amount:
⟶ A = P(1 + R/100)ᵀ
Substituting the values.
⟶ A = 4200(1 + 7/100)³
⟶ A = 4200(1 + 0.07)³
⟶ A = 4200(1.07)³
⟶ A = 4200 × 1.07 × 1.07 × 1.07
⟶ A = 5145 (approx.)
∴ Amount = Rs 5145
Finding the compound interest:
⟶ CI = A - P
⟶ CI = 5145 - 4200
⟶ CI = 945
∴ Compound interest = Rs 945
Step-by-step explanation:
Hope this answer will help you.✌️