1. Find the compound interest on 10,000at 4% per annum for 3 years com

1.	1. Find the compound interest on 10,000at 4% per annum for 3 years compoundedannually.
Answer» <P>Answer: Rs. 3310 Step-by-step explanation: Given: Present value =₹ 10000 INTEREST rate =10% per annum Time =3 years To FIND the amount we have the formula, Amount (A)=P(1+(r/100)) n where P is present value, r is rate of interest, n is time in years Now substituting the values in above formula we GET, ∴A=10000(1+10/100) ⇒A=10000(11/10) ⇒A=121(10)(11) ⇒A=1331(10) ⇒A=₹ 13310 ∴ Compound interest =A–P =13310–10000=₹ 3310

1. Find the compound interest on 10,000at 4% per annum for 3 years compoundedannually.

Answer»

<P>Answer:

Rs. 3310

Step-by-step explanation:

Given:

Present value =₹ 10000

INTEREST rate =10% per annum

Time =3 years

To FIND the amount we have the formula,

Amount (A)=P(1+(r/100))

where P is present value, r is rate of interest, n is time in years

Now substituting the values in above formula we GET,

∴A=10000(1+10/100)

⇒A=10000(11/10)

⇒A=121(10)(11)

⇒A=1331(10)

⇒A=₹ 13310

∴ Compound interest =A–P

=13310–10000=₹ 3310