Question

Find the compound interest when principal =2000 rate =20%per annum and time 3 years ​

Answer 1

Question:-

• Find the compound interest when
• principal =2000
• rate =20%per annum
• and time 3 years.

To find:-

• Compound interest

Given:-

• Principal = Rs.2,000
• Rate = 20%
• Time = 3 years.

Solution:-

⇒
`A = P (1 + (R)/(100) )^(n)`

=
`2000 (1 + (20)/(100))^(3)`

=
`2000 ( 1 + (1)/(5) )^(3)`

=
`2000 ((6)/(5)) ^(3)`

=
`2000 *(6)/(5) * (6)/(5) * (6)/(5)`

= 16 × 6 × 6 × 6

⇒A = Rs.3456

⇒CI = A - P

⇒CI = 3456 - 2000

⇒CI = Rs.1456

Answer:-

·Compound interest is Rs.1456.