Question

the simple intrest on a sum of money for 3 years at 10% per annum is ₹3,000. what will be compound interest on the same sum at the rate for the same period, compounded annually.
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Answer 1

given: n=3 years, r=10%p.a = 0.1, si =3000

si = pnr

3000 = p×3×.1

p = 10000

A=p(1+r)ⁿ

=10000(1+0.1)³

=13310

ci = A-p = 13310-10000 = 3310