1. Find the compound interest and amount ineach of the following:(i) P

1.	1. Find the compound interest and amount ineach of the following:(i) P=3000, R = 5% p.a., Time = 2 years
Answer» Answer: RS.307.50 Step-by-step explanation: Principal (P) = Rs.3000 Rate (R) = 5% p.a. Time (n) = 2 years Amount (A) = P (1 + R/100)ⁿ => A = 3000 (1 + 5/100)² => A = 3000 (21/20)² => A = Rs.3307.50 Compound Interest = Rs.(3307.50-3000) = Rs.307.50

1. Find the compound interest and amount ineach of the following:(i) P=3000, R = 5% p.a., Time = 2 years

Answer»

Answer:

RS.307.50

Step-by-step explanation:

Principal (P) = Rs.3000

Rate (R) = 5% p.a.

Time (n) = 2 years

Amount (A) = P (1 + R/100)ⁿ

=> A = 3000 (1 + 5/100)²

=> A = 3000 (21/20)²

=> A = Rs.3307.50

Compound Interest = Rs.(3307.50-3000) = Rs.307.50