Question

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

Answer 1

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A) Principal (P) = Rs 10, 800

Rate (R) =12 1/2% = 25/2% % (annual)

Number of years (n) = 3

Amount, A = P( 1+R/100)t

  =Rs(10800(1+25/100)3)

  =Rs 10800(225/200)3

  =Rs 10800 *225/200 *225/200 * 225/200

  =Rs 15377. 34(approximately)

Compound interest = amount - principal

  = Rs(15377.34 -10800)

  =Rs 4577.34
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Answer 2

Given principal = ₹10,800

.
rate = 12 1/ 2 % = 25 / 2 % = 12.5 %

.
time = 3 years

.
Find the amount:
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amount = ( p × r × t ) /100

.
amount = 10,800 [ 1 + ( 12.5/ 100 )]^3

.
= 10,800 ( 112.5/ 100 )^3

.
= 10,800 × ( 1.125)^3

.
= 10,800 × 1.125 × 1.125 × 1.125

.
= ₹15377.34 = ₹15377 ( approx )

.
Find the compound interest:
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C.I = amount - principal

.
C.I = 15377 - 10,800 = ₹4577

.
Answer:
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Amount = ₹15377 , C.I = ₹4577

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