Question

The compound interest on Rs 2000 for 3 years at 5% per annum compounded annually is ?​

Answer 1

Given :

• Principal (P) = Rs. 2000
• Time(n) = 3 years
• Rate = 5% p.a

To find :

• Compound interest

Solution :

As we know that,

Compound Interest = Amount - Principal

We aren't given the value of amount. Let us calculate it first.

$\longmapsto$ A = P ( 1 + $\sf \dfrac{R}{100}$ )$\sf {^n }$

$\longmapsto$ A = 2000 ( 1 + $\sf \dfrac{5}{100}$ )$\sf {^3}$

$\longmapsto$ A = 2000 ( $\sf \dfrac{100 + 5}{100}$ )$\sf {^3}$

$\longmapsto$ A = 2000 ( $\sf \dfrac{105}{100}$ )$\sf {^3}$

$\longmapsto$ A = 2000 × $\sf \dfrac{105}{100}$ × $\sf \dfrac{105}{100}$ × $\sf \dfrac{105}{100}$

$\longmapsto$ A = 2000 × $\sf \dfrac{21}{20}$ × $\sf \dfrac{21}{20}$ × $\sf \dfrac{21}{20}$

$\longmapsto$ A = 2 × $\sf \dfrac{21}{2}$ × $\sf \dfrac{21}{2}$ × $\sf \dfrac{21}{2}$

$\longmapsto$ A = 2 × $\sf \dfrac{21}{2}$ × $\sf \dfrac{21}{2}$ × $\sf \dfrac{21}{2}$

$\longmapsto$ A = $\sf \dfrac{18522}{8}$

$\longmapsto$ Amount = 2315.25

Compound Interest = Amount - Principal

$\longmapsto$ CI = Rs. ( 2315.25 - 2000 )

$\longmapsto$ CI = Rs. 315.25

Therefore, compound interest is Rs. 315.25.

Answer 2

Answer:

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Step-by-step explanation: