Question

Calculate the Amount and compound interest on

a) Rs. 10800 for 3years at 25÷2% per annum compounded annually.

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Answer 1

Principle (p) = Rs. 10800

Time (t) = 3 years

Rate (r) = (25 ÷ 2)% = 12.5%

Therefore,

$Amount \: = p {(1 + \frac{r}{100})}^{t}$

$= 10800 {(1 + \frac{12.5}{100})}^{3}$

$= 10800 {(1 + \frac{125}{1000})}^{3}$

$= 10800 \times \frac{1125}{1000} \times \frac{1125}{1000} \times \frac{1125}{1000}$

$= 15377.343$

So, amount = Rs. 15377.343

Compound Interest = Amount - Principle

= Rs. 15377.343 - Rs. 10800

= Rs. 4577.343

Hence, amount is Rs. 15377.343 and compound interest is Rs. 4577.343.

Answer 2

Answer:

amount is Rs. 15377.343 and compound interest is Rs. 4577.343.