Rohit deposited ₹1200 in his savings bank account.find the compound interest earned by him after 3 years at the rate of 15% per annum ?
Answers
Answered by
1
HELLO!!
ANSWER:
Compound Interest earned by Rohit=₹625.05
EXPLANATION:
GIVEN:
Principal(P)=₹1200
Rate of interest (r)=15%
Time (n)=3years
TO FIND:
Compound interest
SOLUTION:
Amount (A)= P(1+r/100)³
A=1200(1 + 15/100)³
A=1200(1 + 3/20)³
A=1200(20/20 + 3/20)³
A=1200(23/20)³
A=1200(12167/8000)
A=1200*12167/8000
A=14600400/8000
A=₹1825.05
Compound interest (CI) = A - P
CI = 1825.05 - 1200
CI = ₹625.05
HOPE IT HELPS YOU!!
ANSWER:
Compound Interest earned by Rohit=₹625.05
EXPLANATION:
GIVEN:
Principal(P)=₹1200
Rate of interest (r)=15%
Time (n)=3years
TO FIND:
Compound interest
SOLUTION:
Amount (A)= P(1+r/100)³
A=1200(1 + 15/100)³
A=1200(1 + 3/20)³
A=1200(20/20 + 3/20)³
A=1200(23/20)³
A=1200(12167/8000)
A=1200*12167/8000
A=14600400/8000
A=₹1825.05
Compound interest (CI) = A - P
CI = 1825.05 - 1200
CI = ₹625.05
HOPE IT HELPS YOU!!
Similar questions