Question

Find the compound interest on rs.25000 at rate of 12 percent per annum for three years

Answer 1

solution
ci = p(1+r/100)^n
= 25000(1.12)^3
= 35123.2
amount for 3 years = 35123.2
intrest = 10123.2

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Answer 2

Answer:

P = Rs. 25000, n = 3 years, r = 12% p.a

∴ Amount =P(1+ 100/r )n

=Rs.25000×(1+ 100/12 )³

=Rs.25000×( 100/112 )³

=Rs.25000× 25/28 × 25/28 × 25/28

=Rs.35123.20

∴ Compound interest =Rs.(35123.20−25000)=Rs.10123.20