Question

find the compound and compound interest on rupees 2500 for 3 years at 10% compounded annually

Answer 1

Solutions :-

We have,

Principle = p = Rs 2,500
Time = t = 3 years
Rate = r = 10% p.a
Compound Interest = C.I = ?
Amount = A = ?


Find the Amount :-

A = p (1 + r)^t
= 2500 (1 + 10%)³
= 2500 (1 + 0.10)³
= 2500 (1.10)³
= 2500 × 1.331
= 3327.5

Find the Compound Interest :-

C.I = A - p
= Rs ( 3327.5 - 2500)
= Rs 827.5


Answer : Amount = Rs 3327.5
Compound Interest = Rs 827.5

Answer 2

Step-by-step explanation:

Question:-

• Find the compound interest annually of rupees 2500 at 12% of rate for 3 years ?

Given:-

$\sf{:\implies{Principle = 2,500}}$

$\sf{:\implies{Rate = 12}}$%

$\sf{:\implies{Time = 3\:yrs}}$

Equation used:-

$\sf{:\implies{Compound\:Interest = P(1+\dfrac{r}{n})^{nt}-1}}$

Solution:-

$\sf{:\implies{Compound\:Interest = P(1+\dfrac{r}{n})^{nt}-1}}$

$\sf{:\implies{Compound\:Interest = 2, 500(1+\dfrac{12}{100})^{3}-1}}$

$\sf{:\implies{Compound\:Interest = 2, 500(1+0.12)^{3}-1}}$

$\sf{:\implies{Compound\:Interest = 2, 500(1.12)^{3}-1}}$

$\sf{:\implies{Compound\:Interest = 2, 500(0.404928)}}$

$\sf{:\implies{Compound\:Interest = 1,012.32}}$

$\red{\boxed{\bf{:\implies{Compound\:Interest = 1,012.32}}}}$

Hence, the compound interest annually of rupees 2500 at 12% of rate for 3 years is 1, 012.32

$\sf{:\implies{Amount = Principle + Compound\:Interest}}$

$\sf{:\implies{Amount = 2,500 + 1,012.32 }}$

$\sf{:\implies{Amount = 3,512.32 }}$

$\pink{\boxed{\bf{:\implies{Amount = 3,512.32 }}}}$