Question

What is the compound interest of rs.800 when interest for 3 years at 5% compound interest

Answer 1

Answer:

the answer is rupees926.1

Answer 2

Compound interest = 126.1

Step-by-step explanation:

Given:

Principal (P) = 800

Rate of interest(r) = 5% = 5 / 100 = 0.05

Number of year(n) = 3 years

Compound interest =

Computation of Amount:

$Amount = Principal(1+r)^n\\\\Amount = 800(1+0.05)^3\\\\Amount = 800(1.157625)\\\\Amount = 926.1$

So, Amount =926.1

Computation of Compound interest:

Compound interest = Amount - Principal

Compound interest = 926.1 - 800

Compound interest = 126.1

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