Question

calculate the amount and compound interest on rs 62500 for three years at 12 % per annum compound anually

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Answer 1

Answer:

Amount= P(1+12/100)^3

=62500(1.12)^3=87808

Interest=87808-62500=25308

Answer 2

$\large\underline\bold{Question:-}$

• Calculate the amount and compound interest on Rs.62500 for 3 years at 12% p.a compound annualy

$\large\underline\bold{To \: \: Find:-}$

• Amount
• Compound interest

$\large\underline\bold{Given:-}$

$\implies \: Principal =Rs \: 62500$

$\implies{Time = 3 \: years}$

$\implies Rate = 12 \%$

$\large\underline\bold{Required \: formula:-}$

$A = P(1 + \frac{R}{100})^{n}$

$CI = A - P$

$\large\underline\bold{Solution:-}$

Applying the values to the given formula,

$=62500(1 + \frac{12}{100})^{3}$

$=62500(1 + \frac{6}{50})^{3}$

$= 62500( \frac{56}{50})^{3}$

$= 62500 \times \frac{56}{50} \times \frac{56}{50} \times \frac{56}{50}$

$= 25 \times 56 \times 56 \times \frac{56}{50}$

$=87808$

$\therefore The \: amount \: is \: Rs.87808$

Applying the values by the given compound interest formula,

CI = 87808 - 62500

CI = 25308

ᴀɴsᴡᴇʀ :-

• Hence,The Compound interest is 25308 and Amount is 87808.