Question

Principal = 20,000, Rate=
$8 \frac{1}{2}$
Time=3years​

Answer 1

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•Principal = 20,000

•Rate = $8 \frac{1}{2}$ = $\frac{17}{2}$

•Time = 3 yrs.

• Simple interest = $\frac{P\times R\times T}{100}$

⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀ ⠀= $\frac{20000\times17\times3}{2\times100}$

⠀⠀⠀⠀ ⠀⠀⠀⠀⠀⠀ ⠀= 5100 Ans.

• Compund interest

⠀⠀⠀⠀⠀⠀Amount = $p(1 + \frac{r}{100})^{n}$

⠀⠀⠀⠀⠀⠀⠀A = $20000(1 + \frac{17}{2\times100})^{3}$

⠀⠀⠀⠀⠀⠀⠀A = $20000 \times \frac{217}{200}^{3}$

⠀⠀⠀⠀⠀⠀⠀A = $20000 \times\frac{217}{200}\frac{217}{200}\frac{217}{200}$

⠀⠀⠀⠀⠀⠀⠀A = 102183.13

• Compund interest = Amount - Principal

⠀⠀⠀⠀⠀⠀⠀⠀= 102183.13 - 20000

⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀= 82183.13 Ans.

Answer 2

Answer:

$\: \: \:➺ \: \: 82183.13 \: answer$

Step-by-step explanation:

GIVEN,

$Principal = 20,000$

$Rate = 8 \frac{1}{2} = \frac{17}{2}$

$Time = 3 years$

Formula

$\: \: \: \: \:Simple \: interest \: = \frac{P \times R \times T}{100}$

$\: \: \: \: \: \: \: \: \: \: = \frac{20000 \times 17 \times 3}{2 \times 100}$

$\: \: \: \: \: \: \: \: \: \: \: = 5100$

Compound interest

$Amount = P(1 + \frac{R}{100} {)}^{n}$

$A \: \: = 20000(1 + \frac{17}{2 \times 100} {)}^{3}$

$A = 20000 \times ( \frac{217}{100} {)}^{3}$

$A = 20000 \times \frac{217}{100} \times \frac{217}{100} \times \frac{217}{100}$

$Amount = 102183.13$

Compound interest =

Amount - principal

$= 102183.13 - 20000$

$= 82183.13$