Question

What is the compound interest on 450 in 3 years at 4% per annum

Answer 1

Answer:

Interest=450

Rate=5%

Time=3years

Principle=?

Principle=(Interest×100)/(Rate×Time)

=(450×100)/(5×3)

=

15

45000

=3000

therefore

sum paid after 3 years=3000+450=3450