Question

what amount will be received in 3 years at 5 percent compound interest for a principal of rs.3200​

Answer 1

Answer:

Explanation:-

Given- principal (P) = Rs 3200 ;

Rate (R) =5% and Time (T) =3years

formula:-

Amount=P×(1+R/100)^T

putting value in formula:-

Amount=3200×(1+5/100)^3

=3200×(105/100)^3

=3200×(105/100)×(105/100)×(105/100)

=3200×(1•05)×(1•05)×(1•05)

=3704•4 rupees

formula of compound interest:-

C•I=Amount- Principal

putting value in formula:-

C•I=3704•4-3200

C•I=504•4 rupees