Question

calculate the amount and compound interest on rupees 10800 for 3 years at 2 5 upon 2% per annum compounded annually​

Answer 1

We can calculate this using the formula

p×(1+r/100)^n

p= principal

r/100=rate of interest

n= no.of years

10800×(1+2/100)³

10800×(102/100)³

10800×(1.02)³

10800×1.06

=11,461.04

We can round off this as

₹11,461

Answer 2

Answer:

Given,

principal (P)=10,800

Time =3years

RATE (R)=12 ½ per annum compounded Annually ,

=25-²%

Amount A =P (1 +r 1000

ans 10,638