Question

What amount is received after depositing 800rs. for a period of 3 years at the rate of 12 percent p.a.

Answer 1

Solutions :-

Given :

Principle (p) = Rs 800
Time (t) = 3 years
Rate (r) = 12% p.a.

Find the Simple Interest (S.I) :-

$S.I = \frac{p \times r \times t}{100} \\ \\ \\=Rs \: (\frac{800 \times 12 \times \times 3}{100} ) \\ \\ = \: Rs \: (\frac{28800}{100}) = Rs \: 288$

Now,
Find the Amount (A) :-

$A = S.I \: + p \\ \\ = Rs \: (288 + 800) \\ \\ = Rs \: 1088$

Hence,
The amount of Rs 1088 is received.


Now,
By Using the compound formula,

A = p(1 + r)^t
= Rs 800(1 + 12%)³
= Rs 800(1 + 0.12)³
= Rs 800 (1.12)³
= Rs 800( 1.12 × 1.12 × 1.12)
= Rs 800 × 1.40
= Rs 1123.94 approx.

Hence,
The amount is Rs 1123.94

Answer 2

Here is your solution

Given:-

principal = Rs 800

Time = 3 years

Rate =12 percent p.a

Now

S.I = p×t×r/ 100

S.I= 800×3×12/100

S.I= Rs 288

we know that

Amount = S.I + p

Amount = 288+800

Amount = Rs1088

hope it will you