Question

Calculate the compound interest for principal 31,250 rate as 8% per annum and time as3 years

Answer 1

This is the answer. Hope it helps you

Answer 2

ANSWER:

Rs. 8116

STEP-BY-STEP VERIFICATION:-

Given,

P=Rs.31250

T=3 yrs

R=8% per annum

Now,

For compound interest,

$C. I. =p[ {(1 + \frac{r}{100} )}^{t} - 1 ]$

Therefore,

C. I.=Rs. 31250[(1.08)³-1]

=Rs. 31250[1.259712-1]

=Rs. 31250×0.259712

=Rs. 8116