To calculate the amount after 3 years with compound interest, we can use the formula:

A = P (1 + r/n) ^ nt

Where:
A = the amount of money accumulated after n years, including interest.
P = principal amount (the initial amount of money)
r = annual interest rate (in decimal)
n = number of times that interest is compounded per year
t = time the money is invested for in years

In this case:
P = ₹8,000
r = 20% per annum = 0.20
n = 1 (since it is compounded annually)
t = 3 years

Substituting these values into the formula:

A = 8000 (1 + 0.20/1) ^ (1*3)
A = 8000 (1 + 0.20) ^ 3
A = 8000 (1.20) ^ 3
A = 8000 * 1.728
A = ₹13,824

So, the sum of ₹8,000 invested at 20% per annum compounded annually will amount to ₹13,824 in 3 years.

Question

To calculate the amount after 3 years with compound interest, we can use the formula:

A = P (1 + r/n) ^ nt

Where:
A = the amount of money accumulated after n years, including interest.
P = principal amount (the initial amount of money)
r = annual interest rate (in decimal)
n = number of times that interest is compounded per year
t = time the money is invested for in years

In this case:
P = ₹8,000
r = 20% per annum = 0.20
n = 1 (since it is compounded annually)
t = 3 years

Substituting these values into the formula:

A = 8000 (1 + 0.20/1) ^ (1*3)
A = 8000 (1 + 0.20) ^ 3
A = 8000 (1.20) ^ 3
A = 8000 * 1.728
A = ₹13,824

So, the sum of ₹8,000 invested at 20% per annum compounded annually will amount to ₹13,824 in 3 years.

Knowee AI · Accepted Answer

To calculate the amount after 3 years with compound interest, we can use the formula:

A = P (1 + r/n) ^ nt

Where:
A = the amount of money accumulated after n years, including interest.
P = principal amount (the initial amount of money)
r = annual interest rate (in decimal)
n = number of times that interest is compounded per year
t = time the money is invested for in years

In this case:
P = ₹8,000
r = 20% per annum = 0.20
n = 1 (since it is compounded annually)
t = 3 years

Substituting these values into the formula:

A = 8000 (1 + 0.20/1) ^ (1*3)
A = 8000 (1 + 0.20) ^ 3
A = 8000 (1.20) ^ 3
A = 8000 * 1.728
A = ₹13,824

So, the sum of ₹8,000 invested at 20% per annum compounded annually will amount to ₹13,824 in 3 years.

A sum of ₹8,000 is invested at 20% p.a., at compound interest with interest being compounded annually. How much will it amount to in 3 years?

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