Question

Find the amount on Rs 62500 for 2 3/4years at 8% per annum compounded annually.

Answer 1

Answer:

The amount is Rs.70304 and Compound interest is Rs.7804

Step-by-step explanation:

Principal = 62500

Time = 3/2 years

Rate of interest = 8 % = 0.08

Compounded half yearly

No. of compounds per year = 2

Formula : A=P(1+r/n)^nt

A=62500(1+0.08/2) ^2*3/2

A=70304A=70304

Interest = Amount - Principal = 70304- 62500=7804

Hence the amount is Rs.70304 and Compound interest is Rs.7804

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Answer 2

Answer:

7840Rs 62500 for 2 3/4years at 8% per annum compounded annually.