find the compound interest on ₹31, 250 at 12% per annum for 2 and half years annually?
Answers
Step-by-step explanation:
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Class 11
>>Applied Mathematics
>>Basics of financial mathematics
>>Accumulation with simple and compound interest
>>Find the amount and the com...
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Find the amount and the compound interest on ₹ 31250 for 1
2
1
year at 8% per annum, compounded half-yearly.
Easy
Solution
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Given:
Present value =₹ 31250
Interest rate =8% per annum
Time =1
2
1
year =3/2 year and compounded half-yearly
To find the amount we have the formula,
Amount (A)=P(1+(r/100))
n
where P is present value, r is rate of interest, n is time in years.
Now substituting the values in above formula we get,
∴A=31250(1+(8/2)/100)
3
⇒A=31250(1+4/100)
3
⇒A=31250(1+1/25)
3
⇒A=31250(26/25)
3
⇒A=31250×17576/15625
⇒A=₹ 35152
∴ Compound interest =A–P
=35452–31250=₹ 3902
Answer:
1917.6
Step-by-step explanation:
P= RS.31250
R= 12%=12/2%=6%
T= 2yrs*2=4yrs
A= P(1+R/100)n
=31250= (1+6/100*4)4
=31250= (1+6/400)4
=31250= (400+6/400)4
=31250= (406/400)(406/400)(406/400)(406/400)
=33767.6
=C.I.=A-P
=33,167.6-31250
=1,917.6