The compound amount of rupees 5000 for 3 years is rupees 8500. find the compound interest.

Compound interest amount=3,500 rupees

Step-by-step explanation:

The compound interest amount after a given number of years can be represented by the formula below;  

Compound interest amount =A-P

where;

A=P(1+r/n)^nt=Future value of investment or loan

P=Initial value of investment or loan

r=Annual interest rate

n=Number of periods per unit time, t

t=Number of years the investment is compounded

In our case;

A=8,500

P=5,000

replacing;

Compound Interest=Total compounded amount after 3 years-Initial amount

Compound interest=(8,500-5,000)=3,500

Compound interest amount=3,500 rupees

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step-by-step explanation:

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