Question

Find amount and compound interest on 31250
for 3 years at 8% per annum compounded
annually
​

Answer 1

• Amount is 39366.
• Compound interest is 8116.

Step-by-step explanation:

Given:-

• Principal is 31250.
• Time period is 3 years.
• Rate of interest is 8%.

To find:-

• Amount.
• Compound interest.

Solution:-

• Here, Interest is Compounded annually.

So,

$\boxed{\sf \bold{Amount = P \bigg(1 + \dfrac{r}{100} \bigg) ^{n} }}$

Where,

• P is principal.
• r is rate of interest.
• n is time period

So, Put the values in formula:

$\sf \longrightarrow 31250 \times \bigg(1 + \dfrac{8}{100} \bigg)^{3}$

$\sf \longrightarrow 31250 \times \bigg( \dfrac{100 + 8}{100} \bigg)^{3}$

$\sf \longrightarrow 31250 \times \bigg( \dfrac{108}{100} \bigg)^{3}$

$\sf \longrightarrow 31250 \times \dfrac{1259712}{1000000}$

$\sf \longrightarrow 31250 \times 1.259712$

$\longrightarrow \blue{\boxed{ \sf \bold{ 39366}} \bigstar}$

Thus,

Amount is 39366.

Now,

$\boxed{\sf \bold{C.I = Amount - Principal }}$

[C.I means Compound interest]

$\sf \longrightarrow 39366 - 31250$

$\sf \longrightarrow \purple{ \boxed{\bold{8116}}\star}$

Therefore,

Compound interest is 8116.

Answer 2

Answer:

Given :-

• Principal = Rs 31250
• Rate of Interest = 8%
• Time = 3 years

To Find :-

• What is the amount and compound interest.

Formula Used :-

❶ To find interest we know that,

$\boxed{\bold{\large{A\: =\: P\bigg(1 + \dfrac{r}{100}\bigg)^{n}}}}$

where,

• A = Amount
• P = Principal
• r = Rate of Interest
• n = Time

❷ To find compound interest we know how,

$\boxed{\bold{\large{C.I\: =\: A\: -\: P}}}$

where,

• C.I = Compound Interest
• A = Amount
• P = Principal

Solution :-

❶ To find Amount,

Given :

• P = Rs 31250
• r% = 8%
• n = 3 years

According to the question by using the formula we get,

⇒ A = $31250 \times \bigg(1 + \dfrac{8}{100}\bigg)^{3}$

⇒ A = $31250 \times \bigg(1 + \dfrac{{\cancel{8}}}{\cancel{100}}\bigg)^{3}$

⇒ A = $31250 \times \bigg(1 + \dfrac{4}{50}\bigg)^{3}$

⇒ A = $31250 \times \bigg(\dfrac{54}{50}\bigg)^{3}$

⇒ A = $31250 \times \dfrac{54}{50} \times \dfrac{54}{50} \times \dfrac{54}{50}$

⇒ A = $\dfrac{{\cancel{4920750000}}}{{\cancel{125000}}}$

➠ A = Rs 39366

$\therefore$ The amount is Rs 39366 .

❷ To find compound interest,

↦ C.I = 39366 - 31250

➥ C.I = Rs 8116

$\therefore$ The compound interest is Rs 8116 .