Question

2. Find the amount and compound interest on
Rs. 62500 for 2 years at the rate of 4% per annum
compounded annually.​

Answer 1

Step-by-step explanation:

the answer is 67600 rupees

Answer 2

Answer:

Given:

Present value= ₹ 62500

Interest rate= 12 % per annum

Time=2 years 6 months = (2 + ½) years= 5/2 years

To find the amount we have the formula,

Amount (A) = P (1+(R/100))n

Where P is present value, r is rate of interest, n is time in years.

Now substituting the values in above formula we get,

∴ A = 62500 (1 + 12/100)2 [1 + (1/2 × 12)/100]

⇒ A = 62500 (1+3/25)2 (1+6/100)

⇒ A = 62500 (28/25)2 (106/100)

⇒ A = 625 × 784/625 × 106 = 784 × 106

⇒ A = ₹ 83104

∴ Compound interest = A – P

= 83104 – 62500 = ₹ 20604