the compound interest on 3000 at 5% per annum compounded annually for 2 years is
Answers
Answered by
3
Answer:
A=P(1+
100
r
)
n
P=3,000
r=5%
n=2 years
A=3,000(1+
100
5
)
2
=3,000×
100
105
×
100
105
=3,307.5Rs.
CI=A−P
=3,307.5−3,000
=307.5Rs
Step-by-step explanation:
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Answered by
1
Answer:
principal (p) = ₹3000
time period (t) = 2 years
rate of interest (r) = 5%
amount :-
p[1 + r/100]^t
= 3000[ 1 + 5/100]²
= 3000[1 + 1/20]²
= 3000[21/20]²
= 3000 × 21/20 × 21/20
= 3000 × 441/400
= 3,307.50
compound interest = 3307.5 - 3000
= ₹ 307.50
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