Please answer question 1 (b)
Answers
Answer:
1. b) P=₹62500.
T=2 years 6months=30 months (Because 2years=24 months + 6 months=30 months).
R=12%.
SI=PTR/100.
SI=62500×30×12/100.
SI=1875000×12/100.
SI=22500000/100.
SI=₹225000.
Sorry small mistake.
Compound Interest=SI-P.
Compound Interest=225000-62500.
Compound Interest=162500.
I think this is your answer.
Answer:
Present value =₹ 62500
Interest rate =12% per annum
Time =2 years 6 months =(2+ 1/2) years =5/2 years
To find the amount we have the formula,
Amount (A)=P(1+(r/100))
n
where P is present value, r is rate of interest, n is time in years.
Now substituting the values in above formula we get,
∴A=62500(1+12/100)^5/2
⇒A=62500(1+3/25)^2 [1+(1/2×12)/100]
⇒A=62500(28/25)^2 [1+6/100]
⇒A=62500(28/25)^2 (106/100)
⇒A=625×784/625×106=784×106
⇒A=625×784/625×106=784×106
⇒A=₹ 83104
And Compound interest =A–P
=83104–62500=₹ 20604