Question

The simple interest on a certain sum of money for 3 years at 10% is Rs.3600. Find
the amount due at the compound interest on this sum of money at the same rate
after 3 years, interest is compounded annually.​

Answer 1

Answer:

15972

Step-by-step explanation:

p ×3× 10/100 = 3600

p = Rs 12000

A = 12000 + 33.1% of 12000

=12000 + Rs 3972 = Rs 15972

Or

A = 12000(1 + 10/100)^3

= Rs 15972

Answer 2

Answer:

SI = Simple Interest

P=Principal (unknown)

T=3 years (given)

R= rate of interest per cent per year = 10 (given)

SI = P*R*T/100

3600 = P*10*3/100

360000 = 30*P

P = 12000

Let A be the amount received at the end of T years with R being the rate of interest (% per year), compounded annually.

A=P*(1+R/100)^T

Substituting, we get:

A = 12000*(1+10/100)^3

   = 12000*(1.1)^3

   = 12000*1.331

   = 15972

Step-by-step explanation: