4. Calculate the amount and the compound interest on 37.936 at 25 % pa compounded annually for 3 years.
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Answer:
Principal=64000
Rate=7.5%p.a
Time=3years
Where r is the rate and t is the time.
CI=64000(1+7.5/100)
3
−64000
=64000(1+75/1000)
3
−64000
=64000(1+3/40)
3
−64000
=64000×(43/40)
3
−64000
=64000×(43/40×43/40×43/40)−64000
=(43×43×43)−64000
=79507−64000
=15507
Hence CI will be 15507 rupees
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