find the compound interest on Rupees 31250 at at 8% per annum for 2 whole 3 upon 4 year
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Answer:
The amount is ₹35152 and the interest is ₹3902. Rate of interest = 8%per annum...
Step-by-step explanation:
Answer:
The amount is ₹35152 and the interest is ₹3902.
Step-by-step explanation:
Principal = ₹31250
Rate of interest = 8%per annum.
Time = 3/2 years = 1.5 year
The formula for interest:
A=P(1+\frac{r}{n})^{nt}A=P(1+
n
r
)
nt
Where, P is principal, r is rate of interest, t is time in years and n is number of times interest compounded per year.
A=31250(1+\frac{0.08}{2})^{2(1.5)}=35152A=31250(1+
2
0.08
)
2(1.5)
=35152
The compound interest is
I=A-PI=A−P
I=35152-31250=3902I=35152−31250=3902
Therefore the amount is ₹35152 and the interest is ₹3902.
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