Question

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​

Answer 1

Step-by-step explanation:

The 15 % will be ₹ 1200 per annum

so total intrest in 3 years = 1200 x 3

= ₹ 3600

Answer 2

First we will find the amount

amount=p(1+r/100)^n

amount=8000(1+15/100)^3

amount=8000(105/100)^3

amount=8000(21/20)^3

on simplification u get the amount as

9261

now the compound interest=amount-principal

=9261-8000

=1261