Calculating Compound Interest

The video tutorial explains how to calculate compound interest for an investment of ₹20,000 at 1.5% per annum over three years. It distinguishes between compound and simple interest, demonstrates converting 1.5% to a decimal, and applies the compound interest formula using a power for efficiency. The final amount is calculated and rounded to the nearest rupee, with a detailed explanation of each step and the marks awarded for correct calculations.

How do you calculate the total amount in the account after three years?

What is the final rounded amount in the account after three years?

What are the three marks awarded for in this question?