Question

(a)Find the amount and compound interest on Rs. 25,000 for 3 years
at 12% per annum compounded annually?​

Answer 1

Answer:

•Amount = Rs. 35123.2

•Compound interest = Rs.10123.2

Step-by-step explanation:

Given that,

• Principal (P) = Rs.25000
• Time (t) = 3years
• Rate of interest (R) = 12%

As we know that,

A = P(1 + R/100)^t

↪ A = 25000(1 + 12/100)³

↪ A = 25000(112/100)³

↪ A = 25000 × 112/100 × 112/100 × 112/100

↪ A = 25 × 112 × 11.2 × 1.12

↪ A = 2800 × 12.544

↪ A = 35123.2

.°. Amount = Rs. 35123.2.

Now, we know that,

↪ Interest = Amount - Principal

↪ Interest = 35123.2 - 25000

↪ Interest = 10123.2

.°. Compound interest = Rs. 10123.2.