find the amount and compound interest on a sum of ₹15625 at 4% per annum for 3 years compounded annually
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9
Answer:
Given
Principle (P) = Rs 15625
rate of interest (r) = 4 %
time (n) = 3 years
We know that
Amount (A) = P (1 + r/100)^n
= 15625 (1 + 4/100)³
= 15625 (26/25)³
= 15625 (17576/15625)
= Rs 17576
C.I = Amount - Principle
= Rs 17576 - Rs 15625
= Rs 1951
Compound interest = Rs 1951
Amount = Rs 17576
Hope this helps you
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