Question

EXERCISE 11.1
1. Using the formula, calculate the amount and the CI in each of the following:
(b) P = 2500; R = 8% p.a.; n = 3 years​

Answer 1

Answer:

25.008

Step-by-step explanation:

25.008 the calulate by

Answer 2

Step-by-step explanation:

CI=p{(1+r/100)^t-1}

=2500{(1+8/100)³ -1}

=2500{(108/100)³-1}

=2500(1259712/1000000-1)

=2500×259712/1000000

=649.28 rs

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