Question

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Find the amount and the compound interest on ₹16,000 for 3 years at 5% per annum compounded annually.​

Answer 1

Find the amount and the compound interest on ₹16,000 for 3 years at 5% per annum compounded annually.

Principal = (P) = ₹16, 000

Time = (t) = 3 years

Rate = (r) = 5%

Amount = Principal × (1 + (r/2 × 100)) n × 2

= ₹ 16,000 × (1+ (5/200)) 3 × 2

= ₹16,000 × (205/200)6

= ₹ 16,000 × 41/40 × 41/40 × 41/40 × 41/40 × 41/40 × 41/40

= ₹ 18,555

C.I. = Amount – Principal

= ₹ 18,555 - ₹ 16,000

₹ 2555

$bts ❤ exo$

Answer 2

Answer:

For 1st year Principal (P)=Rs.16000, Rate (R)=5% Time (T)=1 year

∴ Interest= 16000×5×1

100

=160×5

=Rs.800

∴ Amount at the end of firstyear=

Rs16000+800=Rs.16800

For 2nd year Principal (P)=Rs.16800, Rate (R)=5% Time (T)=1 year

∴ Interest= 16800×5×1

100

=168×5

=Rs.840

∴ Amount at the end of second year=

Rs16800+840=Rs.17640

For 3rd year Principal (P)=Rs.17640, Rate (R)=5% Time (T)=1 year

∴ Interest=17640×5×1

100

=1764

2

=Rs.882

∴ Amount at the end of third year=Rs.17640+882=Rs.18522

Hence required amount=Rs.18522

Explanation:

here is your answer ☺️.