Question

Find the compound interest on rupees 2560 for 1 year at 25/2% p.a. compounded yearly?

Answer 1

Answer:

320 Rs.

Step-by-step explanation:

Principal = 2,560 Rs.

Rate        = 25/2% = 12.5%

Time       = 1 Year

Compound Interest (C.I) = Amount - Principal

Amount                             = Principal(1 + Rate/100)ⁿ

Amount                             = 2560(1 + 12.5/100)¹

Amount                             = 2560 × 112.5/100

Amount                             = 288,000/100

Amount                             = 2,880 Rs.

Compound Interest (C.I) = Amount - Principal

                                          = 2,880 - 2,560

                                          = 320 Rs.

PLEASE MARK MY ANSWER AS THE BRAINLIEST ANSWER.