Question

Find the amount and compound interest on ₹25000 for 3 years at 6% per annum, compounded annually ​

Answer 1

Answer:

Given, Principal =Rs. 25,000

Time =3 years

Rate =6%

Amount compounded annually =25000(1+

100

6

)

3

=25,000×

100

106

×

100

106

×

100

106

=29,775.4

Compound interest=Rs. 29,775.4−Rs. 25,000

=Rs. 4775.4.

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Answer 2

Correct answer

Step-by-step explanation:

Present Value = ₹ 25000

Interset rate for first year , P = 5%

per annum

Interest rate for second year , Q = 6%

per annum

Interest rate for second year R = 8%

per annum

Amount ( A ) = P×(1+p/100) × (1+p(100) × (1+r/100)

Now substituting the values in above formula we get

So A = 25000 × (1+5/100) × (1+6/1000) × (1+8/100)

= A = 25000 × (105/100) × (106/100) × (198/100)

= A = 21 × 53 × 27

= A = ₹ 30051

So Compound interest = A - P

= 30051 - 25000

= ₹ 5051

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