Question

What would be the compound interest occurred on an amount of Rs. 8000 at the rate of 15 p.c.pa in three years?

Answer 1

Answer:

Rs.4,167

Step-by-step explanation:

P = 8,000

r = 15%

n = 3 years

C.I = P [(1+r/100)^n -1]

= 8,000[(1+15/100)^3 -1]

= 4,167