find compound interest if principal is 25000 and amount 37250
Answers
Answered by
2
Step-by-step explanation:
Given, Principal =Rs. 25,000
Time =3 years
Rate =6%
Amount compounded annually =25000(1+
100
6
)
3
=25,000× 100106
×
100
106
×
100
106
=29,775.4
Compound interest=Rs. 29,775.4−Rs. 25,000
=Rs. 4775.4.
Answered by
2
Step-by-step explanation:
Given, Principal =Rs. 25,000
Time =3 years
Rate =6%
Amount compounded annually =25000(1+1006)3
=25,000×100106×100106×100106
=29,775.4
Compound interest=Rs. 29,775.4−Rs. 25,000
=Rs. 4775.4.
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