Question

Find the amount and compound interest on 10240 for 3years at 12 1/2% per annum compounded annually.
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Answer 1

Answer:

Present value= ₹ 10240 Interest rate= 12 ½ % per annum = 25/2% Time=3 years To find the amount we have the formula, Amount (A) = P (1+(R/100))n Where P is present value, r is rate of interest, n is time in years. Now substituting the values in above formula we get, ∴ A = 10240 (1 + (25/2)/100)3 ⇒ A = 10240 (1+1/8)3 ⇒ A = 10240 (9/8)3 ⇒ A = 31250 × 729/512 = 20 × 729 ⇒ A = ₹ 14580 ∴ Compound interest = A – P = 14580 – 10240= ₹ 4340Read more on Sarthaks.com - https://www.sarthaks.com/737638/find-the-amount-and-compound-interest-10240-for-years-at-per-annum-compounded-annually

Answer 2

Step-by-step explanation:

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