Question

What will be the compound interest on 5000
for 3 years, when the rate of interest is 4% and
the interest is compounded annually?​

Answer 1

Answer:

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Given : Principal value P=5,000 Rs., n=3,R

1

=8,R

2

=10,R

3

=12

Amount(A)=P(1+

100

R

1

)(1+

100

R

2

)(1+

100

R

3

)

=5000(1+

100

8

)(1+

100

10

)(1+

100

12

)

=6652.8

C.I.=A−P=6652.8−5000=1652.8=1653

Hence, the correct answer is Rs. 1,653.