Question

preeti invested ₹50000 at 8% per annum for three years and the interest is compounded annually . calculate the interest for the third year

Answer 1

Hi ,

Principal ( p ) = Rs 50000

Rate of interest ( r ) = 8%

Number of Times interest paid = n

Amount = A

A = p( 1 + r /100 )^n

= 50000 ( 1 + 8 /100 )^3

= 50000 ( 1 + 2 / 25 )^3

= 50000 ( 27 / 25 )^3

= 50000×( 27/25 )×(27/25) ( 27/25 )

= Rs 62985.60

C.I = A - p

= 62985.6 - 50000

= 12985.60

I hope this helps you.

:)

Answer 2

Heya,

P= ₹50000
R= 8%
T= 3 years

A= P (1+r/100)^t

A= 50000 (1 + 8/100)^3

A= 50000 (108/100)^3

A= 50000 (54/50)^3

A= 50000 × 54/50 × 54/50 × 54/50

A= 2 × 54 × 54 × 10.8
A= 62,985.6


C.I = A-P

C.I = 62,985.6-50000

C.I = 12,985.60

Therefore,
Compound interest is ₹12,985.60

Hope my answer helps you :)

Regards,
Shobana