Question

Find the compound interest on ₹ 31,250 at 12% pa for 12.5 years.

Answer 1

CI = 92374.24

A = 154874.24

p = 31250

r = 12

n = 12 years

A = 31250 * (1+12/100)¹²

= 31250 * (112/100)¹²

= 31250 * 3.8959759925

= 121749.24

n = 1/2 years

r for 1/2 year = 12/2 = 6

amount for 1/2 year = 31250 *(1+6/100)^2n

= 31250 * (106/100)¹ = 33125

total amount for 12.5 years = 121749.24 + 33125 = 154874.24

CI for 12 years = 121749.24 - 31250 = 90499.24

CI for 1/2 year = 33125 - 31250 = 1875

total CI = 90499 + 1875 = 92374.24

Answer 2

Answer: Compound interest= 97,597.18

Step-by-step explanation:

Given-  Principle - 31,250 rs

              Rate - 12%

               Time - 12.5 year

Find - Compound interest - ?

∵ C.I = A - P

Note- To find C.I first we have to calculate Amount then we can calculate C.I

Formula- = $A=P[1+\frac{R}{100}] ^{n}$ …. (1)

Put the values in eq. (1)

$A =31250[1+\frac{12}{100} ]^{12.5}$

$A=31250[1+0.12]^{12.5}$

$A = 31250[1.12]^{12.5}$

A = 31250 × 4.12311

A = 128,847.18

∴ C.I = A - P

C.I =  128,847.18 - 31,250

C.I = 97,597.18