Question

Richard deposited 7000 with finance company for three years at an interest of 15% per annum. What is the compound interest that Richard gets after three years?

Answer 1

compound interest which Richard gets- 3150

Explanation:

S.I = P × R × T / 100

7000 × 15 × 3/ 100 = 3150

TOTAL AMOUNT he gets (7000 + 3150)= 10,150 ans