What will be the compound interest of Rs 12000 after 3 years at the same rate?
Show
Complete step-by-step solution - Note: Alternatively we can solve the question by using the simple interest method. But we will not get the same answer always instead we will get an approximate result. The method is done below. What will be the compound interest on a sum of 12000 for 3 years?Now Compound interest = A - P ⇒ Compound interest = Rs. 15972 - Rs. 12000 = Rs. 3972.
How much will Rs 10000 amount to in 3 years at compound interest if the rates are 10% per annum compounded yearly?10000 (1+10100)3=Rs. 10000×1110×1110×1110=Rs. 13310C.I.
What will be the compound interest on 25000 after 3 years at the rate of 12 per annum?(1+12100)3=25000(2825×2825×2825)=35123.20. Q.
What is the compound interest in RS on Rs 12500 at the rate of 12% per annum compounded yearly for 2 years?Detailed Solution:
CI = 12500(1 + 0.12/1)1 × 2 - 12500 = 12500(1.12)2 = 15680 - 12500 = 3180.
|