Question

Find the compound interest on Rupees 6250 at 16% p.a. for 3 years, compounded annually.
What to do after this using (c.i.=amount- initial principal)
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Answer 1

Step-by-step explanation:

Amount=P(1+R/100)^t

=6250(1+16/100)³

=6250(116/100)³

=6250*116*116*116/100*100*100

=9755.60 Rs

C.I=Amt-Pri

C.I=9755.60-6250

C.I=Rs 3505.60