Question

find amount and compound intrest on 31250 for 2 years 6 months at 6% per annum compounded annually​

Answer 1

Step-by-step explanation:

• Time (n) = 2 years 6 months = 5/2 years = 2 ½ years
• Principal (p) = Rs. 31250
• Rate (R) = 6%

→ Amount = [31250 × (1 + 6/100)² × (1 + ½ × 6/100)]

→ Amount = [31250 × (106/100)² × (103/100)]

→ Amount = 31250 × 106/100 × 106/100 × 103/100

→ Amount = 3125 × 106/100 × 106/100 × 103/10

→ Amount = Rs. 36165.875

➳ Compound Interest = Amount - Principal

➳ Compound Interest = 36165.875 - 31250

➳ Compound Interest = Rs. 330408.75

Therefore,

• Amount = Rs. 36165.875
• Compound Interest = Rs. 330408.75