Find the amount and the compound interest on 15,000 for 3 years at 10% per annum compounded annually
please give an appropriate step by step explaination.
The ans should be Rs 19965,Rs 4965 .
Share
Find the amount and the compound interest on 15,000 for 3 years at 10% per annum compounded annually
please give an appropriate step by step explaination.
The ans should be Rs 19965,Rs 4965 .
Sign Up to our social questions and Answers Engine to ask questions, answer people’s questions, and connect with other people.
Login to our social questions & Answers Engine to ask questions answer people’s questions & connect with other people.
Step-by-step explanation:
Principal- 15000
rate- 10%
time-3 years
amount= principal(1+rate/100)^time
A= 15000(1+10/100)^3
A=15000(100+10/100)^3
A=15000(110/100)^3
A=15000(11/10)^3
A=15000*1331/1000
A=15*1331
A=Rs.19965
Compound Interest- Amount-Prncipal= 19965-15000
= RS.4965
the loan will amount to Rs.19965
Solution :
The amount & compound Interest of the compound annually.
Using formula of the compound annually :
A/q
&
We know that compound Interest :