₹ 10,800 for 3 years at 12 1/2 per annum compounded annually
Answers
Answered by
9
Answer:
4,577.3438 Rs.
Step-by-step explanation:
given, P = 10,800 Rs. T = 3 years and R = 12 1/2 % = 25/2 % per annum
use formula,
A=P(1+\frac{R}{100})^TA=P(1+
100
R
)
T
or, A=10800(1+\frac{\frac{25}{2}}{100})^3A=10800(1+
100
2
25
)
3
or, A=10800(1+\frac{25}{200})^3A=10800(1+
200
25
)
3
or, A=10800(1+\frac{1}{8})^3A=10800(1+
8
1
)
3
or, A=10800(\frac{9}{8})^3A=10800(
8
9
)
3
or, 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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