Question

Calculate the amount on
62500 for 3 years at 4% per annum compounded yearly.

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Answer 1

Step-by-step explanation:

62500 x 3/4 I think that will help you

Answer 2

Answer:

Rs 70304

Step-by-step explanation:

amount = 62500 ( 1+ 4/100)^3

= 62500 × (1.04 )^3= Rs 70304

trick:

equivalent rate for first 2 years

= 4+4+ 4×4/100 = 8. 16%

for 3 yrs

= 8.16 + 4 + (8.16×4)/100=12.4%(approx)

amount = 62500 + 12.4 % of 62500

= Rs 70304