Question

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

Answer 1

Answer:

Amount = Rs 17576

Step-by-step explanation:

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

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