Question

Find the compound interest and amount when: Principal = Rs 12800, Rate = 7 ½%, Time = 3 years
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Answer 1

Answer:

Principal(P)=Rs.12800

Rate(R)=721%=215%

Time(T)=3 years

Formula used:

The compound interest is given by

A=P[1+100R]T

Where 

A=Amount

P=Principal

R=Rate

T=Time

Apply the above formula, we get

A=12800⎣⎢⎢⎡1+100215⎦⎥⎥⎤3

A=12800[1+20015]3

A=12800[200215]3

A=12800[1.075]3

A=Rs.15901.4

Now, the compound interest will be

C.I=A−P

C.I=15901.4−12800