Question

Find the amount and compound interest on a sum of

Rs. 15625 at 4% per annum for 3 years compounded

annually.


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Answer 1

Answer:

Hi there.. Here's the answer for your question..

Step-by-step explanation:

Principal (P)= Rs. 15625

Rate (r) = 4%

Time(n) = 3 years

We know,

Amount = P(1+r/100)^n

= 15625(1+4/100)^3

= 15625 * 26/25 * 26/25 *26/25

= 26*26*26

= 17576 Rs.

Now,

C.I = A - P

= 17576 - 15625

= Rs. 1951

HOPE IT HELPS YOU..

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