Question

a person borrowed a sum of rupees 64000 from a bank at the rate of 2.5 % per annum compounded annually find the amount and CI payable after 3 years
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Answer 1

Answer:

A= ₹68,912.00

P= ₹4,912.00

Step-by-step explanation:

First, convert R as a percent to r as a decimal

r = R/100

r = 2.5/100

r = 0.025 rate per year,

Then solve the equation for A

A = P(1 + r/n)nt

A = 64,000.00(1 + 0.025/1)(1)(3)

A = 64,000.00(1 + 0.025)(3)

A = ₹68,921.00

Summary:

The total amount accrued, principal plus interest, with compound interest on a principal of ₹64,000.00 at a rate of 2.5% per year compounded 1 times per year over 3 years is ₹68,921.00.

CI = A-P

= 68,921.00-64,000.00

= ₹4912

Answer 2

Rupees 68800

Step-by-step explanation:

P= Rupees 64000

R= 2.5 percent

T=3yrs

So,

P*R*T/100= SI

64000*2.5*3/200

= 640*2.5*3

=1600*3

= 4800 rupees

so,

AMT= Simple Interest+ Principal

= ( 4800+ 64000) Rupees

=68800 Rupees

ANS- AMT payable after 3yrs is Rupees 68800.