Question

1. Find the amount and the compound interest on 2500 for 2 years at 10% per annum
compounded annually

Answer 1

Answer:

2. principal = Rs. 15625

Time = 3 yrs

Rate of interest = 12% (compounded annually)

15625( 1 + 12/100)³

= 15625 × 112/100 × 112/100 × 112/100

= 28 × 14 × 56

= Rs. 21952

So, the amount = Rs. 21952

And the compound interest is = 21953 - 15625 = Rs. 6328.

I hope it will help you.