Question

If Rs.15625 is compunded annually at 12% per annum for 2 years 4 months, then find the amount and compound interest.

Answer 1

$\blue{\bold{\underline{\underline{Answer:}}}}$

$\green{\tt{\therefore{Compound\:Interest=4297.57\:rupees}}}$

$\orange{\bold{\underline{\underline{Step-by-step\:explanation:}}}}$

$\green{\underline \bold{Given :}} \\ \tt: \implies Principal (p) = 15625 \: rupees \\ \\ \tt: \implies Rate \%(r) = 12\% \\ \\ \tt : \implies Time(t) = 2 \: years \\ \\ \red{\underline \bold{To \: Find :}} \\ \tt: \implies Compound \: Interest = ?$

• According to given question :

$\tt{\circ\:Time=2+\frac{1}{3}=\frac{7}{3}\:years} \\\bold{As \: we \: know \: that} \\ \tt: \implies A= p(1 + \frac{r}{100})^{t} \\ \\ \tt: \implies A= 15625( 1 + \frac{12}{100} )^{\frac{7}{3}} \\ \\ \tt: \implies A = 15625(1+0.12)^{\frac{7}{3}} \\ \\ \tt: \implies A = 15625\times 1.3 \\ \\ \green{\tt: \implies A= 20354.57\: rupees} \\ \\ \bold{As \: we \: know \: that} \\ \tt: \implies C.I= A- p \\ \\ \tt: \implies C.I = 20354.57 - 15625 \\ \\ \green{\tt: \implies C.I = 4729.57 \: rupees}$

Answer 2

Answer:

★ Amount = Rs 20312.5 ★

★ Compound Interest = Rs 4687.5 ★

Step-by-step explanation:

Given:

• Principal is Rs 15625
• Rate is 12% per annum
• Time is 2 years 4 months

To Find:

• Amount and Compound Interest

Solution:

★ Amount = Principal ( 1+r/100)^n ★

★ C.I = Amount – Principal ★

† Changing month into year = 4 months = 4 x 1/12 = 1/3 years †

$\small\implies{\sf }$ A = 15625(1+ 12/100)² x ( 1 + 1/3x12/100)

$\small\implies{\sf }$ A = 15625 x (112/100)² x 104/100

$\small\implies{\sf }$ A = 15625 x 112/100 x 112/100 x 104/100

$\small\implies{\sf }$ A = 15625 x 1304376/1000000

$\small\implies{\sf }$ A = 15625 x 1.3

$\small\implies{\sf }$ A = Rs 20312.5

Therefore, C.I = Amount – Principal

$\small\implies{\sf }$ C.I = 20312.5 – 15625 = Rs 4687.5

Hence, Compound Interest will be Rs 4687.5