The compound interest (in ₹) on ₹ 5,000 for 3 | vedclass

Name: Exam Paper Generator | JEE NEET Paper Generator | Vedclass
Brand: Vedclass
Rating: 5 (35 reviews)

Question

(B) The formula for compound interest is given by: $CI = P \left[ \left( 1 + \frac{R}{100} \right)^{T} - 1 \right]$Given: Principal $(P)$ = $₹ 5,000$,

Vedclass · Accepted Answer

$1655$

Vedclass · Answer

(B) The formula for compound interest is given by: $CI = P \left[ \left( 1 + \frac{R}{100} ight)^{T} - 1 ight]$Given: Principal $(P)$ = $₹ 5,000$,Rate $(R)$ = $10 \%$,Time $(T)$ = $3$ years.Substituting the values into the formula:$CI = 5000 \left[ \left( 1 + \frac{10}{100} ight)^{3} - 1 ight]$$CI = 5000 \left[ \left( 1.1 ight)^{3} - 1 ight]$$CI = 5000 \left[ 1.331 - 1 ight]$$CI = 5000 	imes 0.331$$CI = ₹ 1655$Thus,the compound interest is $₹ 1655$.

The compound interest (in ₹) on ₹ $5,000$ for $3$ years at $10 \%$ per annum will amount to:

Similar Questions

The difference between the simple interest on a certain sum at the rate of $10 \%$ per annum for $2$ years and compound interest which is compounded every $6$ months is ₹ $124.05$. What is the principal (in ₹)?

Find the compound interest (in ₹) on ₹ $15625$ for $9$ months at $16 \%$ per annum compounded quarterly.

Sita deposited ₹ $5,000$ at $10\%$ simple interest for $2$ years. How much more money (in ₹) will Sita have in her account at the end of two years,if it is compounded semi-annually?

What will be the compound interest on a sum of ₹ $25000$ after $3$ years at the rate of $12 \%$ per annum?

The compound interest (in ₹) on ₹ $800$ for $2 \frac{1}{2}$ years at $5 \%$ per annum is:

Vedclass Test Series

Exam Paper Generator

Online Exam Module