Question

1. Calculate the amount and compound interest on
(a). 10,800 for 3 years at 12 1/2 per annum compounded annually​

Answer 1

Answer:

interest=4577.34

Step-by-step explanation:

given

p=10800

time = 3 years

r=121/2=25/2 percent

a=10800(1+25/2÷100)³

a=10800(1+25/2×100)³

a=10800(1+1/8)³

a=10800(8+1/8)³

a=10800(9/8)³

a=10800(9×9×9/8×8×8)

a=5400(9×9×9/4×8×8)

a=2700(9×9×9×/2×64)

a=2700(81×9/2×64)

a=2700(729/128)

a=1968300/128

a=15377.34

∴amount after 3 years = 15377.34

amount = principle + interest

15377.34 =10800+interest

15377.34-10800= interest

∴interest = 4577.34

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Answer 2

given, P = 10,800 Rs. T = 3 years and R = 12 1/2 % = 25/2 % per annum

use formula,

A = 10800 × 9 × 9 × 9/(8 × 8 × 8)

= 15,377.3438 Rs.

now, compound interest = A - P

= 15,377.3438 - 10,800

= 4,577.3438 Rs.

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