find the compound interest when a sum of rupees 78125 invested for 2 years 4 months at 12% per annum compounded annually ? (Chapter- compound interest)
Answers
Rs 23795 compound interest when a sum of Rs 78125 invested for 2 years 4 months at 12% per annum compounded annually
Step-by-step explanation:
P = 78125 Invested amount
R = 12 % Per annum ( Rate of Interest)
n = 2 Years 4 Months
Amount after 2 Years
= 78125 ( 1 + 12/100)²
= 78125 ( 1.12)²
= 98000
interest Earned in 2 Years = 98000 - 78125 = 19875
Interest Earned in next 4 months will be at Rs 98000 as simple interest
Interest = 98000 * 12 * (4/12) /100 = 3920
Total interest earned = 19875 + 3920 = 23795
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