Question

Calculate the amount and compound interest on 10,800 for 3 years at 12 1/2% per annum compounded annually.
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Answer 1

Answer:

Calculate Amount and Compound Interest

Here, P=10,800

n=3 years

12=12 1/2 %= 25/2%

A =p(1+ R/100)n

10800(1+25/100)3

10800(225/200)3

10800×225/200×225/200×225/200

A=15377.34Rs

Compound Interest=Amount-P

=15377.34−10,800

=4577.34Rs