Find the interest on ₹2048 for 3 years interest compounded annually at the rate of 6 1/4%p.a.
Answers
We have to find the interest on 2048 Rs. for 3 years, interest compounded annually at the rate of 6 1/4 % per annum.
solution : principal amount, P = 2048 Rs.
time, n = 3 years
rate, r = 6 1/4 % per annum = 25/4 % per annum
now A = P(1 + r/100)ⁿ
= 2048(1 + 25/400)³
= 2048(1 + 1/16)³
= 2048 × (17/16)³
= 2048 × 17 × 17 × 17/(16 × 16 × 16)
= 2048 × 4913/4096
= 4913/2
= 2456.5 Rs.
compound interest, C.I = A - P
= 2456.5 - 2048
= 408.5 Rs.
Therefore the compound interest would be 408.5 Rs.
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https://brainly.in/question/22661445
We have to find the interest on 2048 Rs. for 3 years, interest compounded annually at the rate of 6 1/4 % per annum.
solution : principal amount, P = 2048 Rs.
time, n = 3 years
rate, r = 6 1/4 % per annum = 25/4 % per annum
now A = P(1 + r/100)ⁿ
= 2048(1 + 25/400)³
= 2048(1 + 1/16)³
= 2048 × (17/16)³
= 2048 × 17 × 17 × 17/(16 × 16 × 16)
= 2048 × 4913/4096
= 4913/2
= 2456.5 Rs.
compound interest, C.I = A - P
= 2456.5 - 2048
= 408.5 Rs.
Therefore the compound interest would be 408.5 Rs.
also read similar questions : find the amount and compound interest on ₹25000 for 3 years at 4% p.a. compounded annually.
brainly.in/question/1521590
find the compound interest on 1800 for 1 year at the rate of 4 % p.a compounded quarterly
brainly.in/question/22661445