Question

Pravin deposits Rupees 6000 finance company for 3 years at 20% per annum compound interest find the amount that Praveen get after 3 year​

Answer 1

$\begin{lgathered}\tt {\pink{Given}}\begin{cases} \sf{\green{Principal=Rs.6000}}\\ \sf{\blue{Time=3\:Years}}\\ \sf{\orange{Rate=20\%}}\\ \sf{\red{Amount=?}}\end{cases}\end{lgathered} \:$

$\rule{200}{4}$

$\bf\red\bigstar\underline\textbf{ \blue{Concept}\:of\: \pink{Interest}}\red\bigstar$

For a principal amount of P at the interest rate of r per annum in t years if the interest is I then ...

1) For Simple Interest

$\red\longrightarrow \green{\boxed{\sf\:I=\frac{P\times r\times t}{100}}}$

2)For Compound Interest:-

$\red\longrightarrow\pink{\boxed{ \bf I=P(1+\frac{r}{100})^{nt}}}$

where, n=interest period

Ex. If the principal is compounded annually(per year) then ,

$\boxed{\bf \: n=1}$

If the principal is compounded half yearly(in every 6 months) then ,

$\boxed{\bf \: n=2}$

If the principal is compounded quarterly (in every 3 months) then ,

$\boxed{\bf \: n=4}$

$\rule{200}{4}$

$\underline {\underline{\LARGE{{\bf{\color{lime}{S}}}{\mathfrak{o}}{\mathfrak{\orange{l}}}{\mathfrak{\color{aqua}{u}}}{\mathfrak{\pink{t}}}{\mathfrak{\purple{i}}}{\mathfrak{\color{navy}{o}}}{\mathfrak{\red{n}}}}}} : \:$

Putting values in Above Told Formula we get :--

$\purple\longmapsto \green{\tt \:A=6000(1 + \frac{ \cancel20}{ \cancel{100}})^{3}} \\ \\ \purple\longmapsto\tt \:A =6000( \frac{6}{5})^{3} \\ \\\purple\longmapsto \orange{\tt \:A = 6000 \times \frac{6}{5} \times \frac{6}{5} \times \frac{6}{5}} \\ \\ \purple\longmapsto \: \large\red{\boxed{\tt\blue{A}\purple{=} \green {Rs} \orange.\pink{10368}}} \:$

$\rule{200}{4}$

$\red{\textbf{Hence, the amount that Praveen get}} \\ \red{\textbf{after 3 year is 10368.}}$