Question

Ram invested rs 4000 at the rate of 15% compound interest. Find the compound interest after 3 years?

Answer 1

Here, P = 4000, R = 15%, T = 3 years

Amount =

$p(1 + \frac{r}{100} )^{t}$

$4000(1 + \frac{15}{100} )^{3} \\ \\ 4000(1 + \frac{3}{20} )^{3} \\ \\ 4000( \frac{23}{20} ) ^{3} \\ \\ 4000 \times \frac{23}{20} \times \frac{23}{20} \times \frac{23}{20} = 6083.5$

Now, C. I. = Amount - Principal

$6083.5 - 4000 = 2083.5$

Hence, the C. I. is ₹ 2083.5

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