Question

Calculate the compound interest on Rs. 50000 for 3 years at 8% per annum,compounded annually.

Answer 1

Step-by-step explanation:

Intrest = PTR÷100

PRINCIPLE (P) = 50000

TIME (T) = 3YEARS

RATE OF INTREST(R) = 8PERCENT

= 50000×3×8÷100

= 12000.

Intrest+Amount = Total amount

= 50000+12000

= 62000.

Answer 2

Answer:

GIVEN:

PRINCIPAL (P) = 50,000

RATE OF INTEREST PER ANNUM (R) = 8%

TIME PERIOD (n) = 3 years

TO FIND:

COMPOUND INTEREST (compounded annually) (I)

SOLUTION:

Amount (A) = $P(1 + R/100)^n$

Substituting the values

$5000(1+8/100)^3$

$50000(108/100)^3$

$50000(24/25)^3\\50000{(27)^3/(25)^3}\\50000 * 19683/15625\\50000* 1.25\\A= 62,500$

Compound Interest (I)= A-P

Substituting the values

I = 62,500 - 50,000

I= 12,500

HENCE, COMPOUND INTEREST AT 8% PER ANNUM= 12,500

Step-by-step explanation: