Question

Find the amount and the compound interest on rs.25000 for 3 years at 12 percent per annum compounded annually

Answer 1

formula A=P (1+R/100)power time
CI=A-P

Answer 2

Amount, A = 35123.2

Compound interest  = 10123.2

Step-by-step explanation:

Given,

p = 25000

t = 3 years

r = 12 %

Amount = ?

Compound interest = ?

We know that,

$A = p \times \left( 1 + \frac{r}{100} \right)^t$

$A = 25000 \times \left ( 1 + \frac{12}{100} \right)^3$

$= 25000\times \left(\frac{112}{100} \right)^3$

= \frac{25000\times 56\times 56\times 56}{125000}

Amount, A = 35123.2

Compound interest = A - P

Compound interest = 35123.2 - 25000

Compound interest  = 10123.2