find the amount and the compound interest on 15625 for 3 years at 12 per annum compounded annually
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Givendata,
PrincipleAmount(P)=15,625
Rateofinterest(r)=12%annually
Time(n)=3year
nowformulateofcompoundinterest (C.I)=P[(1+100r)n−1]
=15,625[(1+10012)3−1]
=15,625[100112×100112×100112−1]
=15,625[1.4049−1]
=15,625×0.404928
=6,327
now compound interest will be=6,327Rs.
&total amount will be=15625+6327
=21,952Rs.
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