Question

Principal amount is Rs.72000, rate of interest 6% and for the period 3 years. Find the Amount and Compound Interest.

Answer 1

i =p*r*n/100
=72000*6*3/100
= 720*6*3
= 720*18
= 12960

Answer 2

Amount = P( 1 + r/100)∧n

A =  72000 ( 1+6/100)³

  = 72000(106/100 * 106/100 * 106/100)

  = 72000 (53/50 * 53/50 * 53/50)

  = 72 * 53 * 53 * 53 / 125

 Amount = 85753.15

(ii) C.I = Amount - Principal (as given in the question)
  
          = 85753.15 - 72000

 Compound Interest  =  13753.15