Question

3 Find the amount and compound interest on 216,000 for 4 years at 8% per annum,
compounded annually.​

Answer 1

Answer:

Amount =RS.293865.61 and Compound Intrest =RS. 77865.61

Step-by-step explanation:

principal =RS.216000

Time=4 years

Rate=8%

therefore, A=P (1+R/100)square n

A=216000 (1+8/100)square 4

A=216000×27/25×27/25×27/25×27/25

A=918330048/3125

A=293865.61

therefore, Compound Intrest=Amount -Principal

CI=293865.61-216000

CI=RS.77865.61