Question

what will be the compound interest on rs.30,000 at 20%p.a compounded annually for 3years​

Answer 1

Answer:

₹21,840

Step-by-step explanation:

Principal (P) = ₹30,000

Rate (R) = 20%

Time (n) = 3 years

Amount (A) = P (1 + R/100)ⁿ

=> A = 30,000 (1 + 20/100)³

=> A = 30,000 (1 + 1/5)³

=> A = 30,000 (6/5)³

=> A = ₹51840

Compound Interest = A-P = ₹51840 - ₹30000 = ₹21,840

Answer 2

Given :-

• Principal = Rs,30,000
• Rate = 20%
• Time = 3 years

To Find :-

• Compound Interest

Solution :-

${:} \longrightarrow \sf{\sf{Amount \: = \: Principal \: \times \: \bigg(\:1\: + \:\dfrac{Rate}{100}\:\bigg)^{Time}}}\\\\ {:} \longrightarrow \sf{\sf{Amount \: = \: 30000\: \times \: \bigg(\:1\: + \:\dfrac{20}{100}\:\bigg)^{3}}}\\\\ {:} \longrightarrow \sf{\sf{Amount \: = \: 30000\: \times \: \bigg(\:\dfrac{120}{100}\:\bigg)^{3}}}\\\\ {:} \longrightarrow \sf{\sf{Amount \: = \: 30000\: \times \: \dfrac{120}{100}\: \times \: \dfrac{120}{100}\: \times \: \dfrac{120}{100}}}\\\\ {:} \longrightarrow \sf{\sf{Amount \: = \: 3\cancel{0000}\: \times \: \dfrac{12\cancel0}{1\cancel{00}}\: \times \: \dfrac{12\cancel0}{1\cancel{00}}\: \times \: \dfrac{120}{1\cancel{00}}}}\\\\ {:} \longrightarrow \sf{\sf{Amount \: = \: 3 \: \times \: 12 \: \times \: 12 \: \times 120}}\\\\ {:} \longrightarrow \sf{\sf{Amount \: = \: 36 \: \times \: 1440}}\\\\ {:} \longrightarrow \sf{\bf{Amount \: = \:Rs,51840}}$

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$\longmapsto\sf \: Compound \: interest \: = \: Amount \: - \: Principal \\ \\ \longmapsto\sf \: Compound \: interest \: = \: 51840 \: - \: 30000 \\ \\ \longmapsto \sf \boxed{\bf { Compound \: interest \: = \: Rs,21840}}$

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Therefore, Compound Interest is Rs,21840

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