Ram borrowed a sum of Rs. $30, 000$ from Shyam for three years. If the rate of interest is $6$ % per annum compounded annually, find the interest paid by Ram to Shyam after three years.

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Solution

$P + I = A = P {(1 + \frac{r}{n})}^{n t}$
$30000 + I = 30000 {(1 + \frac{6}{100 \times 1})}^{1 \times 3}$
$30000 + I = 30000 (1.06)^{3} = 35738.48$
$\Rightarrow I = 5738.48 R s .$

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Ram borrowed a sum of Rs.30,000 from Shyam for three years. If the rate of interest is 6% per annum compounded annually, find the interest paid by Ram to Shyam after three years.

P+I=A=P(1+rn)nt30000+I=30000(1+6100×1)1×3 30000+I=30000(1.06)3=35738.48 ⇒I=5738.48Rs.

Ram borrowed a sum of Rs. $30, 000$ from Shyam for three years. If the rate of interest is $6$ % per annum compounded annually, find the interest paid by Ram to Shyam after three years.

$P + I = A = P {(1 + \frac{r}{n})}^{n t}$
$30000 + I = 30000 {(1 + \frac{6}{100 \times 1})}^{1 \times 3}$
$30000 + I = 30000 (1.06)^{3} = 35738.48$
$\Rightarrow I = 5738.48 R s .$