Question

Calculate the amount and compound interest on
1.
(a) 10,800 for 3 years at 12% per annum compounded annually.
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Answer 1

Answer:

Simple Interest= PRT/100

P= Rs. 10,800, R=12%, T=3 years

= 10,800×12×3/100

=3,88,800/100

= 3,888

Amount= P+SI

= 10,800+3,888

=14,688

Therefore, SI= Rs. 3,888 AND Amount= Rs. 14,688