Question

Find compound interest on
und interest
18750 at 8% per annum for 2 years 5 months.
​

Answer 1

Answer:

Correct question:-

Find compound interest and simple interest on Rs.18750 at 8% per annum for 2 years 5 months.

Solution:-

At first,

• Principal (p) = Rs.18750
• Rate of interest (r) = 8%
• Time(n) = 2 years 5 months.

To find:-

• Simple interest (SI) = ?

We know,

$\star\:{\boxed{\mathfrak\blue{Simple\:interest(SI) = \dfrac{P \times r \times n}{100} }}}$

$\twoheadrightarrow\sf Simple\:interest(SI) = \dfrac{18750 \times 8 \times (2 + \dfrac{5}{12})}{100}\\\\\twoheadrightarrow\sf Simple\:interest(SI) = \dfrac{15000 \times (2 + 0.4167)}{10}\\\\\twoheadrightarrow\sf Simple \: interest(SI) = 1500 \times 2.4167 \\\\\twoheadrightarrow\large{\underline{\boxed{\sf\blue{Simple\:interest(SI) = Rs.3625}}}}$

•°• ${\underline{\textsf{Simple\:interest(SI) = {\textbf{Rs.3625 }}}}}$

$\rule{200}{2}$

Now,

• Principal (p) = Rs.18750
• Rate of interest (r) = 8%
• Time(n) = 29/12

To find:-

• Compound interest (CI) = ?

We know,

$\star\:{\boxed{\mathfrak\green{CI = P(1 + r)^n - P}}}$

$\dashrightarrow\sf CI = 18750(1 + 0.08)^ \frac{29}{12} - 18750 \\\\\dashrightarrow\sf CI = 18750(1.08)^{2.4167} - 18750 \\\\\dashrightarrow\sf CI = 18750 \times 1.20441 - 18750 \\\\\dashrightarrow\sf CI = 22582.6731 - 18750 \\\\\dashrightarrow\large{\underline{\boxed{\sf\green{CI = Rs.3832.67}}}}$

•°• ${\underline{\textsf{Compound \:interest(CI) = {\textbf{Rs.3832.67 }}}}}$

Answer 2

•In a first part :-

Given that :-

• Principal(p) = Rs.18,750

• Rate of interest (r) = 8%

• Time (n) = 2years 5 months.

Find :-

•Simple interest.

SOLUTION :-

=> As we know that,

=> Simple interest = p × r × n / 100

• Put values ,

=> Simple interest = 18750×8×5/12 / 100

=> Simple interest =15000 ×8 × ( 2+5/12)/100

=> Simple interest = 15000×(2+0.4167)/10

=> Simple interest = 1500 × 2.4167

=> .°. Simple interest = Rs. 3625.

____________________

•In a second part :-

Given that:-

•Principal(p) = Rs.18,750

• Rate of interest (r) = 8%

• Time (n) =29/12.

Find :-

•Compound interest.

SOLUTION :-

=> We know that,

=> Compound interest = p(1+r)^n - p

•Put values,

=> Compound interest = 18750(1+0.08)^29/12 - 18750

=> Compound interest = 18750(1.08)^2.4167 - 18750

=> Compound interest = 18750 × 1.20441 - 18750

=> Compound interest = 22582.6731 - 18750

=> .°. Compound interest = Rs. 3832.67

ANSWER:-

(1) The Simple interest is Rs.3625.

(2) The Compound interest is Rs. 3832.67.