Question

principal = 8000 rate = 10% p.a. find compound interest after 3 years​

Answer 1

Answer:

• The compound interest is Rs. 2648.

Step-by-step explanation:

Given-

• Principal (P) = Rs. 8000
• Rate of interest (R%) = 10% p.a.
• Time (n) = 3 years

To find:

The compound interest

• The formula to find the compound interest (C.I) is

$C.I = P [ (1 + \frac{R}{100} )^{n} -1]$

C.I = 8000 [ (1 + (10/100))^{3} -1]

C.I = 8000 [ (1 + (1/10))^{3} - 1 ]

C.I = 8000 [ (11/10) )^{3} - 1 ]

C.I = 8000 [ (1331/1000) ) - 1 ]

C.I = 8000 [ (1331 - 1000)/1000 ]

C.I = 8000 * (331/1000)

C.I = 8*331

C.I = Rs. 2648

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More information

The formula to find amount is

• Amount(A) = P[ 1 + (R/100)^n ]

Here, P is the Principal, R is the Rate of interest, and n is the Time.

Also,

The formula to find the Simple Interest (S.I)

• S.I = (P*R*T)/100

Here, P is the Principal, R is the Rate of interest, and T is the Time.