Question

Find the amount and compound interest on a sum of rupees 15625 at 4% per annum for 3 years compounded annually. ​

Answer 1

Answer:

Principal = Rs 15625

Rate=4%p.a

Time=3 years

Hence, A= P(1+R/100)^n

A= 15625(1+4/100)^3

=15625×104/100×104/100×104/100

=Rs 17576

CI=A-P

= 17576-15625

= Rs 1951