Question

Suresh deposited Rs. 1250 in his savings bank account. Find the  compound interest earned by him after 3 years if the rate of interest is 5%  p.a. and the interest is payable annually.​

Answer 1

Answer:

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