Question

Find the amount and the compound interest on 31250 for 3 years at 12 p.a compunded annually

Answer 1

$\blue{\bold{\underline{\underline{Answer:}}}}$

$\green{\tt{\therefore{Amount=43904\:rupees}}}$

$\green{\tt{\therefore{Compound\:Interest=12654\:rupees}}}$

$\orange{\bold{\underline{\underline{Step-by-step\:explanation:}}}}$

$\green{\underline \bold{Given :}} \\ \tt: \implies Principal(p) = 31250 \: rupees \\ \\ \tt: \implies Time(t) = 3 \: years \\ \\ \tt: \implies Rate\%(r) = 12\% \\ \\ \red{\underline \bold{To \: Find :}} \\ \tt: \implies Amount(A) = ? \\ \\ \tt: \implies Compound \: Interest(C.I) = ?$

• According to given question :

$\bold{As \: we \: know \: that} \\ \tt: \implies A = p(1 + \frac{r}{100} )^{t} \\ \\ \tt: \implies A=31250 \times (1 + \frac{12}{100})^{3} \\ \\ \tt: \implies A =31250 \times (1 + 0.12)^{3} \\ \\ \tt: \implies A =31250 \times (1.12)^{3} \\ \\ \tt: \implies A =31250 \times 1.404928 \\ \\ \green{\tt: \implies A =43904 \: rupees} \\ \\ \bold{For \: compound \: interest : } \\ \tt: \implies C.I=A - p \\ \\ \tt: \implies C.I =43904 - 31250 \\ \\ \green{\tt: \implies C.I=12654 \: rupees}$

Answer 2

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$\tt{\huge{\purple{ ..................... }}}$

QUESTION -

Find the amount and the compound interest on 31250 for 3 years at 12 p.a compunded annually.

SOLUTION -

From the above question, we can derive the following information...

Principle = Rs. 31250

Time = 3 years.

R = 12 % p.a

Amount = 31250 × [ 1.12 ] ^ 3

=> 31250 × 1.404928

=> Rs. 43904.

Now, the compound interest => 32150 ( 1.404928 - 1 )

=> 31250 × 0.404928

=> Rs. 12654.