Rohit deposit rupees 1250 in his savings bank account find the compound interest earned by him after 3 years at the rate of 5% per annum
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Given that Rohit deposited rupees 1250 in his savings bank account.
P = 1250.
Given that the rate of interest per annum, R = 5%.
Given that Time n = 3 years.
We know that A = P(1 + r/100)^n
= 1250(1 + 5/100)^3
= 1250(1 + 1/20)^3
= 1250(21/20)^3
= 1250 * 9261/8000
= 11576250/8000
= 46305/32
= 1447.031
We know that CI = A - P
= 1447.031 + 1250
= 197.031.
Therefore the Compound interest earned by him after 3 years = 197.031.
Hope this helps!
P = 1250.
Given that the rate of interest per annum, R = 5%.
Given that Time n = 3 years.
We know that A = P(1 + r/100)^n
= 1250(1 + 5/100)^3
= 1250(1 + 1/20)^3
= 1250(21/20)^3
= 1250 * 9261/8000
= 11576250/8000
= 46305/32
= 1447.031
We know that CI = A - P
= 1447.031 + 1250
= 197.031.
Therefore the Compound interest earned by him after 3 years = 197.031.
Hope this helps!
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