Question

what will a loan of 15000 amount to in 3 year if compounded annually at the Rate of 10% p.a.?

Answer 1

Given :
Principal (P) = Rs. 15000
Rate of interest (R) = 10% per annum
Time (n) = 3 years

We know that,
$Amount(A) = P {(1 + \frac{R}{100}) }^{n} \\ \\ Amount(A) = 15000 {(1 + \frac{10}{100} )}^{3} \\ \\ Amount(A) = 15000 {( \frac{10 + 1}{10} )}^{3} \\ \\ Amount(A) = 15000 {( \frac{11}{10} )}^{3} \\ \\ Amount(A) = 15000 \times \frac{ 1331}{1000} \\ \\ Amount(A) = 19965$

Hence, the loan will be amounted to Rs. 19965

Answer 2

HEY MATE HERE IS YOUR ANSWER

Given :

Principal : 15000
Rate : 10% p. a
Time : 3 years

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Solution :

We know,

$= > a = p(1 + \frac{r}{100} {)}^{3}$
=> a = 15000(1 + 10/100)^3

➡️ A = 15000 × (11 / 10)^3

➡️ A = 15000 × ( 1331 / 1000)

➡️ A = 19965 Rs

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The loan will be 19665₹

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Hope it will help you
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