Question

Rohit deposited rupees 1250 in his savings bank account. Find the compound interest earned by him after 3 years at the rate of 5% per annum.

Answer 1

A=P(1+R/100)^n

P=1250Rs
R=5%
n=3

A=1250(1+5/100)^3=1250×(21/20)3=1447.03Rs
A=P+C.I
C.I=A-P
C.I=1447.03-1250=197.03Rs

Answer 2

Compound interest

Step-by-step explanation:

• The total deposited rupees by Rohit are = 1250
• Rate of interest is = 5%
• Time  N = 3 years.
• Now we use formula A = P (1+R/100)*N
• A = 1250 (1+5/100)3
• A = 1250*(21/20)3 = 1447.03rs
• A = P +C *I
• C*I A-P
• C*I = 1447.03-1250 = 197.03rs.
• 197.03rs

Learn more: Interest, compound

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