Question

2. Mr. Balajee has invested a sum of Rs. 12500 for 3 years at 8% simple much more interest he would get on the same amount at the same rate ? (a) Rs. 284.6 (b) Rs. 246.4 (c) Rs. 264.4 interest per annum. If the interest is compounded annually , then hon (d) Rs. 26.44​

Answer 1

Answer:

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Step-by-step explanation:

Correct option is

750

Given,

Principle, p=12500

Rate of compound interest, r=2%

Time, t=3

We have to calculate compound interest for 1 year,

∴t=1

Compound interest, ci=A−p (∵A=amount after t year)

ci=p(1+

100

r

)

t

−p

Put the values of p,r,and t in the above equation and get the value of compound interest, ci

ci=12500(1+

100

2

)

1

−12500

=12500(

100

102

)

−

12500

=125×102−12500

=12750−12500

=750 Rs