Calculate the amount and compound interest on rupees 10,800 for 3 years at 12 One upon two % per annum compounded annually
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given, P = 10,800 Rs. T = 3 years and R = 12 1/2 % = 25/2 % per annum
use formula,
A=P\left(1+\frac{R}{100}\right)^TA=P(1+100R)T
or, A=10800\left(1+\frac{\frac{25}{2}}{100}\right)^3A=10800(1+100225)3
or, A=10800\left(1+\frac{25}{200}\right)^3A=10800(1+20025)3
or, A=10800\left(1+\frac{1}{8}\right)^3A=10800(1+81)3
or, A=10800\left(\frac{9}{8}\right)^3A=10800(89)3
or, A = 10800 × 9 × 9 × 9/(8 × 8 × 8)
= 15,377.3438 Rs.
now, compound interest = A - P
= 15,377.3438 - 10,800
= 4,577.3438 Rs.
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