Question

Find the compound interest on Rs 15625 for 3 years at 12% per annum compounded annually

Answer 1

Answer:

The amount is 21952 and interest is 6327.

Step-by-step explanation:

Principal amount (P)= 15625

Rate of interest (r) = 12%= 0.12

Time (t) = 3 years.

A=P(1+r)^tA=P(1+r) t

A=15625(1+0.12)^3=21952A=15625(1+0.12)

3

=21952

The amount is 21952.

A=P+IA=P+I

A-P=IA−P=I

21952-15625=I21952−15625=I

6327=I6327=I

Therefore the amount is 21952 and interest is 6327.

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Answer 2

Step-by-step explanation:

A = p(1+r)^n

p=15625

r=12%

n=3

A=15625(1+12%)³

=15625 × 1.12³

=21952

CI = A-P

=21952-15625

=6327