Question

using the formula calculate ,when principal=20,000rate = per annum time =3year​

Answer 1

Solution

Solution :

Here, Principal amount (P)=20000(P)=20000 Rs

So, amount after first year =20000(1+10100)1=20000(1+10100)1

Amount after second year =20000(1+10100)(1+10100)1=20000(1+10100)(1+10100)1

Amount after third year =20000(1+10100)(1+10100)(1+12100)1=20000(1+10100)(1+10100)(1+12100)1

=20000∗1110∗1110∗112100=224∗121=27104=20000∗1110∗1110∗112100=224∗121=27104 Rs

∴∴ Compound interest =27104−20000=7104=27104-20000=7104 Rs