There is 40% increase in an amount in 10 years at simple interest. what will be the compound interest of rs. 30000 after 3 years at the same rate?
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SOLUTION:-
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let p = 100
s.i = 40 and T= 10 years
R= [100×60/100×10] = 6% p.a
given,
Now, P = 30000 T= 3, r = 6%
C.I= 30000[{1+r/100}^3 -1]
C.I = 30000[{ 53/50}^3 -1]
= 30000[148,877/125,000}-1]
30×148877/125 - 30000
CI= 35,730.48-30000
[ci=5,730.48]ans
____________________________________
let p = 100
s.i = 40 and T= 10 years
R= [100×60/100×10] = 6% p.a
given,
Now, P = 30000 T= 3, r = 6%
C.I= 30000[{1+r/100}^3 -1]
C.I = 30000[{ 53/50}^3 -1]
= 30000[148,877/125,000}-1]
30×148877/125 - 30000
CI= 35,730.48-30000
[ci=5,730.48]ans
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