Question

Surabhi borrowed a sum of rs 1200 from a finance company to perchase a refrigerator . if the rate of interest is 5 % per annum compounded annually . calculate the compound interest that Surabhi has to pay the company after 3 years .​

Answer 1

Answer:

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Answer 2

Step-by-step explanation:

Principle = Rs 12000

Rate = 5% P.a.

Rate = 5% P.a.Time = 3 years

$⇒c.i = p(1 + \frac{r}{100} ) {}^{t} \\ ⇒c.i = 2500(1 + \frac{5}{100})^{3} \\ ⇒c.i = 2500 \times {1.05}^{3} \\ ⇒c.i = 2500 \times 1.157 \\ ⇒c.i = 2,892.5$