Question

what sum of money will amount to rs.9261 in 3 years at 5 percent per annum compound interest ?

Answer 1

for 1st year
P=9261
R=5%
I=9261*1*5/100
I=46305/100
I=463.05
A=9261+463.05=9724.05
for second year
P=9724.05
R=5%
I=9724.05*5*1/100
l=48620.25/100
I=486.2025
A=9724.05+486.2025=10210.2525
for third year
P=10210.2525
R=5%
I=10210.2525*5*1/100
I=51051.2625/100
I=510.512625
A=10210.2525+510.512625=10720.765125
C.I=463.05+486.2025+510.512625
C.I=1459.765125
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