Question

find the compound interest on rs 31250 at 8% per annum for 2¾years

Answer 1

N= 2³/₄ years

= [31250 × (1 + 8/100)² × (1 + (3/4 × 8)/100)]

= {31250 × (27/25)² × (53/50)}

= (31250 × 27/25 × 27/25 × 53/50)

= 38637.

Amount = 38637,

compound interest = (38637 - 31250) = 7387.

Answer 2

Answer:

Compound interest = Rs 7387

Step by step solution :

Principal = 31250   ........... given

Rate = 8%

Time = 2$^{3/4}$ years.

Amount =?

Amount = P( 1 +$\frac{R}{100}$ )$^{T}$

⇒ 31250( 1+$\frac{R}{100}$)$2^{3/4}$

⇒ 31250 ×$\frac{108}{100}$×$\frac{108}{100}$×$\frac{106}{100}$

⇒ Rs. 38637

Compound interest = Amount - Principal

                                = 38637- 31250

                                = Rs. 7387

Let us know what is compound interest ?

When you earn interest on both the money you've saved and the interest you earn . For example -- if you deposit $1000 in an account that pays 1 percent annual interest , you'd earn $10 in interest after a year .

Learn more about compound interest :

https://brainly.in/question/19350553

Learn more about principal and amount :

https://brainly.in/question/34735153

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