Question

What will be the compound interest on a sum of rs 50000 after 3 years at the rate 12%?

Answer 1

According to given sum,

principle=50,000
Time=3 years
Rate per annum=12%

$compound \: interest = p {(1 + \frac{r}{100} })^{3}$
$= 50000 {(1 + \frac{12}{100} })^{3}$
$= 50000 {( \frac{28}{25} })^{3}$
=70,246.4

:-)hope it helps u.

Answer 2

Given:

Sum=Rs.50,000

Number of years=3

Rate of interest=12%

To find:

The compound interest

Solution:

The compound interest is Rs.20,246.4.

We can find the interest by following the given steps-

We know that the compound interest is the product of the principal sum, (1+rate)/100 to the power of the number of years.

The number of years, n=3

The principal sum=Rs.50,000

Rate of interest=12%

So, the amount will be equal to the principal sum×$(1+rate/100)^{n}$

On putting the values, we get

Amount=50,000×$(1+12/100)^{3}$

=50,000×112/100×112/100×112/100

=5×$112^{3}$/100

=$112^{3}$/20

=70,246.4

Now, we know that the amount obtained=Principal sum+compund interest

So, amount-principal=compound interest

70,246.4-50,000=Compound interest

Compound Interest=Rs.20,246.4

Therefore, the compound interest is Rs.20,246.4.