Question

find the compound interest on 25000 at the rate of 12 percentage and three years​

Answer 1

Hey buddy here's your answer

Answer 2

Solution:

Given:

=> Principal (P) = Rs. 25000

=> Rate (r) = 12%

=> Time (t) = 3 years

To find:

=> Compound interest

Formula used:

$\sf{\implies A = P\bigg(1+\dfrac{r}{100}\bigg)^{3}}$

=> Compound interest = Amount (A) - Principal (P)

Now, put the values in the formula, we get

$\sf{\implies Amount = P\bigg(1+\dfrac{r}{100}\bigg)^{3}}$

$\sf{\implies Amount = 25000\bigg(1+\dfrac{12}{100}\bigg)^{3}}$

$\sf{\implies Amount = 25000\bigg(\dfrac{100+12}{100}\bigg)^{3}}$

$\sf{\implies Amount = 25000\bigg(\dfrac{112}{100}\bigg)^{3}}$

$\sf{\implies Amount = 25000\times (1.12)^{3}}$

$\sf{\implies Amount = 25000 \times 1.404928}$

$\sf{\implies Amount = Rs.\;35123.2}$

Now, we will find compound interest

=> Compound interest = Amount (A) - Principal (P)

=> Compound interest = Rs. 35123.2 - Rs. 25000

=> Compound interest = Rs. 10123.2