Question

What would be the compound interest obtained on amount of 20,000 at the rate of
15% per annum after 3 years?​

Answer 1

Step-by-step explanation:

A = p( 1+R/100)n

= 20000× (1+ 15/100)³

= 20000× (1+3/20)³

= 20000× 23/20× 23/20× 23/20

= 30417.5

C I = A-P

= 30417.5- 20000

= 10417.5

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