Q. Calculate the amount and the compoound interest on Rs. 20000/-for three years at 8% per annum.
Answers
Answered by
1
Answer:
A =20,000(1 + (r/100))n
A =20,000(1 + (8/100))3
A =20,000(27/25)3
A =20,000(19683/15625)
A =25,194.24
Now, Compound Interest =Amount - Principal
CI =25194.24 - 20,000
CI =5194.24
Compound Interest is Rs.5194.24
Answered by
4
Given:
The principal of Rs.20,000
Rate is 8% per annum
Time is 3 years
Concept used:
A =Amount
P = Principal
r =Rate of interest
n =Time period
Calculation:
A =20,000(1 + (r/100))n
A =20,000(1 + (8/100))3
A =20,000(27/25)3
A =20,000(19683/15625)
A =25,194.24
Now, Compound Interest =Amount - Principal
CI =25194.24 - 20,000
CI =5194.24
Step-by-step explanation:
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