Rohit deposited Rs. 8000 with a finance company for 3 years at an interest of 15% per annum. What is the compound interest that Rohit gets after 3 years?
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Answered by
52
Answer:
Your right answer = Rs. 4167
Step-by-step explanation:
Given details are,
Principal (p) = Rs 8000
Rate (r) = 15%
Time = 3years
By using the formula,
A = P (1 + R/100) n
= 8000 (1 + 5/100)3
= 8000 (115/100)3
= Rs 12167
∴ Compound Interest = A – P = Rs 12167 – Rs 8000 = Rs 4167
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Answer:
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