Question

Ramesh deposited 1250 in his saving bank account. Find the compound interest earned by him after 3 years if the rate of interest is 5% per annum and interest is payable annualy​

Answer 1

A=P(1+R/100)^n

P=1250Rs

R=5%

n=3

A=1250(1+5/100)^3=1250×(21/20)3=1447.03Rs

A=P+C.I

C.I=A-P

C.I=1447.03-1250=197.03Rs

Answer 2

• Compound Interest= Amount -Principal
• Amount= principal (rate/100) ^time
• apply these formula firstly find the amount then find the Compound interest