Question

principal = 16000 rate = 12½ and Time = 3 , find compound interest​

Answer 1

Answer:

Step-by-step explanation:

Principal = 16000

Rate = 12 1 ÷ 2% = 25 ÷ 2% = 12.5%

Time = 3 years or months (not given)

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Amount after C.I =

Amount = P (1 + R ÷ 100)³ (3 = Time compounded)

Amount = 16000 (1 + 12.5 ÷ 100)³

Amount = 16000 (100 + 12.5 ÷ 100)³

Amount = 16000 (112.5 ÷ 100)³

Amount = 16000 × 112.5 ÷ 100 × 112.5 ÷ 100 × 112.5 ÷ 100

Amount = 22781.25

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Compound Interest = Amount - Principal

C.I = 22781.25 - 16000

C.I = 6781.25

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