Question

find the amount and compound interest on ₹25000 for 3 years at 4% p.a. compounded annually.

Answer 1

Hi ,

It is given that ,

Principal = p = Rs 25000

Time = t = 3 years

Rate of interest per annum = r = 4%

Number of times interest paid (n ) = 3

Amount ( A ) = p ( 1 + r/100 )ⁿ

A = 25000 ( 1 + 4/100 )³

A = 25000 ( 1 + 1/25 )³

A = 25000 ( 26/25 )³

A = (25000×26×26×26)/( 25×25×25)

A = Rs 28121.60

Therefore ,

Compound interest = A - p

C.I = 28121.60 - 25000

C.I = Rs 3121.60

I hope this helps you.

: )

Answer 2

Hi,

Please see the attached file!


Thanks