Question

Ridhima deposited Rs.3600 in a bank that gives compound interest at 10%. How much money will Ridhima get back after 3 years. Also find the compound Interest(CI). ​

Answer 1

Answer:

• Ridhima will get back Rs.4791.6 after 4 years.
• Compound interest is Rs.1191.6 .

Step-by-step explanation:

To find:-

• Amount which Ridhima get back after 3 years.
• Compound interest.

Solution:-

Given that,

Ridhima deposited Rs.3600 in bank.

Compound interest at rate 10%.

Principal is Rs.3600 .

Rate of interest is 10%.

Time period is 3 years.

• Here, work is going on yearly. So, we will use Compounded annually formula for Amount.

$\boxed{\bold{\star\:Amount = P(1 + \cfrac{r}{100})^{n}}}$

• Where, P, n and r are principal, time and rate respectively.

$\longrightarrow \sf 3600 \times (1 + \cfrac{10}{100})^{3}$

$\longrightarrow \sf 3600 \times (\cfrac{100+10}{100})^{3}$

$\longrightarrow \sf 3600 \times (\cfrac{110}{100})^{3}$

$\longrightarrow \sf 3600 \times \cfrac{1331000}{1000000}$

$\longrightarrow \sf 3600 \times 1.331$

$\longrightarrow \purple{\boxed{4791.6}}$

Amount is Rs.4791.6 .

Thus,

Ridhima will get Rs.4791.6 after 3 years.

$\boxed{\sf \bold{\star \:Compound\: interest = Amount - Principal}}$

$\longrightarrow \sf 4791.6 - 3600$

$\longrightarrow \pink{\boxed{1191.6}}$

Compound interest is Rs.1191.6 .

Answer 2

This is the answer. Please mark as the brainliest.