7. Natasha gave ₹ $60,000$ to Nimisha for $3$ years at $15$% p.a. compound interest. Calculate to the nearest rupee: (i) The amount Natasha receives at the end of 3 years. (ii) The compound interest paid by Nimisha
7. Natasha gave ₹ $60,000$ to Nimisha for $3$ years at $15$% p.a. compound interest. Calculate to the nearest rupee: (i) The amount Natasha receives at the end of 3 years. (ii) The compound interest paid by Nimisha

Solution:-

C1 = (P × r × t)/$100$

$=(60,000\times 15\times 1)/100$

= ₹ $9,000$

P1 = $60,000+9,000$

= ₹ $69,000$

C2 = (P × r × t)/$100$

$=(69,000\times 15\times 1)/100$

= ₹ $10,350$

P2 = $69,000+10,350$

= ₹ $79,350$

C3 = (P × r × t)/$100$

$=(79,350\times 15\times 1)/100$

= ₹ $1190.25$

P3 = $79,350+1,190.25$

= ₹ $91,252.5$

The compound interest paid by Nimisha,

Ctotal = C1 + C2 + C3

= $9,000+10,350+1,190.25$

= ₹ $20,541$