Question

the compound interest on ₹2000 for 3years at 5%p.a. compounded annually is.​

Answer 1

Hii dear...i have not obtained an exact answer but i have tried ....

Answer 2

The Interest earned after 3 years would be Rs 315.25

1) This is a  problem of compound interest compounded annually.

2) Principal amount is Rs 2000

3) Interest Rate is 5% per annum

4) Time duration is 3 years.

5) Compounded amount after the time period will be

A = $P(1+\frac{R}{100})^T$

6) Substituting the values : A = $2000(1+\frac{5}{100})^3$

7) Calculating gives the Amount to be Rs 2315.25

8) The total interest scored on the amount ins 2315.25 - 2000 = Rs 315.25