Question

Raja lends rs 500 each year at 10% compound interest. how much will it become at the end of 3 years ?

Answer 1

QUESTION ---- Raja lends rs 500 each year at 10% compound interest. how much will it become at the end of 3 years ?

ANSWER
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Principal (P) = Rs. 500
Time (n) = 3 Years
Rate (R) = 10%

Amount = P × ( 1 + R/100 ) ^n

Amount = 500 ( 1 + 10/100 ) ^3

Amount = 500 ( 1 + 1/10 ) ^3

Amount = 500 ( 11/10 ) ^3

Amount = 500 × 11/10 × 11/10 × 11/10

Amount = 11 × 11 × 11 / 2

Amount = Rs. 665.5

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ANSWER = AMOUNT = Rs. 665.5

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HOPE IT HELPS :)'):):):):)