Question

Find the compound interest on Rs 62500 for 5/2 years at 12%per annum.

Answer 1

Consult the attachment.

Answer 2

Dear Student,

◆ Answer -

Compound Interest = Rs 20470

● Explanation -

Compound interest is calculated by formula -

CI = P [(1+r)^t - 1]

Substitute values,

CI = 62500 [(1+0.12)^(5/2) - 1]

CI = 62500 [1.12^2.5 - 1]

CI = 62500 [1.3275 - 1]

CI = 62500 × 0.3275

CI = Rs 20470

Hence, compound interest is Rs 20470.

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