Question

Find the amount and compound interest on rupees 10240 for 3 years at 12 1/2 ℅ per annum compounded anually.

Answer 1

CI=A-P

A=P(1+R/100)^t

Substituting gives,

A=14580

CI=4340

Answer 2

Answer:

Given:

Present value= ₹ 10240

Interest rate= 12 ½ % per annum = 25/2%

Time=3 years

To find the amount we have the formula,

Amount (A) = P (1+(R/100))n

Where P is present value, r is rate of interest, n is time in years.

Now substituting the values in above formula we get,

∴ A = 10240 (1 + (25/2)/100)3

⇒ A = 10240 (1+1/8)3

⇒ A = 10240 (9/8)3

⇒ A = 31250 × 729/512 = 20 × 729

⇒ A = ₹ 14580

∴ Compound interest = A – P

= 14580 – 10240= ₹ 4340

Step-by-step explanation:

Hope it helps you...