Find the amount and compound interest on Rs.3000 at 10% p.a for 3 year

1.	Find the amount and compound interest on Rs.3000 at 10% p.a for 3 years *
Answer» ONG>Answer: Principal (P) = RS.3000 Rate (R) = 10% p.a. Time (T) = 3 YEARS Amount (A) = P × (1 + R/100)ⁿ => A = 3000 × (1 + 10/100)³ => A = 3000 × (11/10)³ => A = 3000 × 11/10 × 11/10 × 11/10 => A = Rs.3993 COMPOUND Interest = Rs.(3993-3000) = Rs.993

Find the amount and compound interest on Rs.3000 at 10% p.a for 3 years *

Answer» ONG>Answer:

Principal (P) = RS.3000

Rate (R) = 10% p.a.

Time (T) = 3 YEARS

Amount (A) = P × (1 + R/100)ⁿ

=> A = 3000 × (1 + 10/100)³

=> A = 3000 × (11/10)³

=> A = 3000 × 11/10 × 11/10 × 11/10

=> A = Rs.3993

COMPOUND Interest = Rs.(3993-3000) = Rs.993