Question

calculate the amount of ₹31250 ay the end of 2½ years, compounded annually at 8% per annum​

Answer 1

= [31250 × (1 + 8/100)² × (1 + (3/4 × 8)/100)]

= (31250 × (27/25)² × (53/50)}

= (31250 x 27/25 × 27/25 × 53/50)

= 38637.

Amount = 38637,

compound interest = (38637 - 31250) = 7387.