Question

Sumitra borrowed a sum of 25,000 to open a boutique, at the rate of 7% per annum for 3 years. Find
the compound interest paid by her after 3 years without using formula of compound interest.​

Answer 1

Given,

• Profit P = 25000
• Rate r = 7%
• Time n = 3 years

To find,

• Compound Interest after 3 years.

Solution,

We know that,

Compound Interest C = P(1+r)^n

According to the Question,

C =

$25000(1 + \frac{7}{100} ) ^{3} \\ 25000( \frac{100 + 7}{100} ) {}^{3} \\ 25000( \frac{107}{100} ) {}^{3} \\ 25000 \times \frac{107}{100} \times \frac{107}{100} \times \frac{107}{100} \\ 30626.075$

Hence,

Compound interest= 30626.075

Answer 2

Answer:

₹5626.07

Step-by-step explanation:

Principal (P)=₹25000

Rate (R)=7%

Time(T)=3

Now , we need to find the compound interest (CI)

CI=A-P

so we need to find amount of CI

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

A=25000(107/100)^3 [1+100then100+7=107]

A=25000×107/100×107/100×107/100

A=25×107×107×107/1000.

A=30626075/1000

A=30626.075

A=₹30626.07

now, CI

CI=A-P

= 30626.07-25000

= ₹ 5626.07

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