Question

find the compound interest on Rs31250 at 8p.c.p.a for 2.75 year
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Answer 1

Answer:

principal = 31250

rate of interest per annum = 8 %

time = 2 3/4 years

amount = 31250 (1+8/100)²

31250(27/25)²

which is equal to 36 450 rs

now 3/4 year left so we should da simple interst

36450 × 3 × 8

_____________

4 × 100

= 2187 rs now the total amount = 36 450 + 2187

= 38 637 rs

compound interest = amount - principal

38 637 - 31 250

which is equal to 7387 rs

compound interest is 7387 rs