Question

Find the amount and the compound interest on Rs.15625 for 3 years at 12 percent per annum, compounded annually.​

Answer 1

Step-by-step explanation:

Given:

A=?

C. I =?

P=15625

n=3

i=12%=12/100=0.12

Finding Compound interest :

C. I =P[(1+i)^n -1]

=15625((1+0.12)^3 -1)

=15625(0.404928)

=6327

Finding amount:

A=P+I

=15625+6327

=21952