Question
Find the compound interest on ₹ 20,000 for 3 years at 10% per annum compounded annually.
Answer: Option A
:
A
A=P×[1+r100]n, where P is the principal, r is the rate of interest and n is the time period.
C.I = A - P
Here, P = ₹20,000, r= 10 %,and n = 3 years
A=20,000×[1+10100]3
A=20,000×[11×11×1110×10×10]
A =₹26,620
So, C.I= 26,620 - 20,000= ₹6,620
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:
A
A=P×[1+r100]n, where P is the principal, r is the rate of interest and n is the time period.
C.I = A - P
Here, P = ₹20,000, r= 10 %,and n = 3 years
A=20,000×[1+10100]3
A=20,000×[11×11×1110×10×10]
A =₹26,620
So, C.I= 26,620 - 20,000= ₹6,620
Was this answer helpful ?
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