Question

Find the ci on rs 15625 at 8% per annum for 3 years compounded annually

Answer 1

Answer:

4058

Step-by-step explanation:

15625×108/100×108/100×108/100-15625=4058

or

ci=principal(1+rate/100)time

time is whole power

15625[1+8/100]³-1=4058

Answer 2

Given:

Sum Rs. 15625

Rate = 16%

Time 1.5 years

Formula Used;

C.I = A P

A = P(1 + R/100)T

Calculation:

Interest compounded half yearly

R = 16/2 = 8%

T= 1.5 x 2 = 3

substituting the values in the formula

A = 15625(1 + 8/100)³

A = 15625(27/25)³ = Rs.19683

C. I A-P 19683 - 15625 = 4058

:: The compound interest is Rs. 4058