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Find the amount and compound interest on rs 16000 for 3year at 5%per annum compounded annuly

Posted by Golu Kumar 7 years, 3 months ago

CBSE > Class 08 > Mathematics

1 answers

Yogita Ingle 7 years, 2 months ago

P = 16000, N = 3years, R = 5%.
A = p(1 + R/100)ⁿ.
A = 16000(1 + 5/100)³
A= 16000 (105/100)³
A= 16000 × 105/100 × 105/100 × 105/100
A= 18522 rupees
Compound interest = 18522-16000 = 2522 rupees.

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CBSE > Class 08 > Mathematics