Question

find the compound interest on rupees 31250 at 8 pcpa for 2.75 years​

Answer 1

Answer:

Given :

Principle = p = Rs 31250

Rate = r = 8% per annum = 0.08

Time = t = 2¾ years = 2.75 years

To find :- Compound Interest = C.I

Find the Amount (A) :-

A = p (1 + r)^t

= 31250 (1 + 0.08)^2.75

= 31250 (1.08)^2.75

= 31250 × 1.2357064899

= 38615.83 approx.

Find the compound interest :-

C.I = A - p

= Rs (38615.83 - 31250)

= Rs 7365.83

Hence,

Compound Interest = Rs 7365.83

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