Calculate the amount and compo
(a) 10,800 fot cars at 12% per annum compounded annually,
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Answer:
Principal (P) = Rs 10, 800
Rate (R) 12 1/2% = 25/2% ( annual )
Number of years (n) = 3
Amount, A = p( 1 + R/100 )n
= Rs [10800 (1 + 25/200)3]
= Rs [10800(225/200)3]
= Rs ( 10800 x 225/200 x 225/200 x 225/200 )
= Rs 15377.34375
= Rs 15377.34 (approximately)
C.I. = A − P = Rs (15377.34 − 10800) = Rs 4,577....
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