Question

THE Compound interest when principal3000, rate 5% per annum and time =2years is

Answer 1

Answer:

p=3000

t=2yrs

r=5%

compound interest =p{1+r/100}power n

=3000{1+5/100} power 2

=3000{21/20} power 2

=3000×21/20×21/20=3307.5