Rohan deposited 8,000 with a finance company for 2 years at an interest of 15% per annum. What is the
compound interest that Rohan gets after 3 years?
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2
Answer:
Ⓡ4167
Step-by-step explanation:
P = 8000
t= 3 yrs
1 = 15%
A = 8000(1+15/100)³ - 8000
= 8000(115/100)³ - 8000
= 8000( 115³/100³ - 1)
=8000((1520875 - 1000000)/1000000)
=8000(520875/1000000)
=8((520875/1000)
=520875/125
=4167
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