We know that the amount A at the end of n years at the rate of R % per annum when the interest is compounded annually is given by A=P(1+R100)n
Here P = Rs.12000 R = 10% per annum and n = 3 ∴ Amount after 3 years = P(1+R100)3=Rs.12000×(1+10100)3=Rs.12000×(1+110)3 =Rs.12000×(1110)3=Rs.12000×1110×1110×1110=Rs.(12×11×11×11)=Rs.15972 Now Compound interest = A - P ⇒ Compound interest = Rs. 15972 - Rs.12000 = Rs. 3972
Find the compound interest at the rate of 5% per annum for 3 years on that principal which in 3 years at the rate of 5% per annum gives Rs 1200 as simple interest. ∴ The required compound interest is Rs.1,261.
If you invest $10,000 today at 10% interest, how much will you have in 10 years? Summary: The future value of the investment of $10000 after 10 years at 10% will be $ 25940.
20000 for 3 year at 5% per annum, when the interest is compounded annually Pls help. Answer: The compounded interest = 3152.5 Rs. The compounded interest = 3152.5 Rs.
Compound interest is calculated by multiplying the initial loan amount, or principal, by one plus the annual interest rate raised to the number of compound periods minus one. This will leave you with the total sum of the loan, including compound interest.
So, the future amount (including principal and interest) after 3 years will be Rs 20,736. The compound interest on Rs 12,000 for 3 years at an annual interest rate of 20% (compounded annually) is Rs 8,736.
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