Question

Q3: find the interest in each of the following cases:-
On Rs 450 at 4% per annum for 2 years and 9 months:​

Answer 1

Answer:

3. Rahman lent Rs. 16000 to Rasheed at the rate of 12 ½ % per annum compound interest. Find the amount payable by Rasheed to Rahman after 3 years.

Solution:

Given details are,

Principal (p) = Rs 16000

Rate (r) = 12 ½ % per annum = 12.5%

Time (t) = 3 years

By using the formula,

A = P (1 + R/100) n

= 16000 (1 + 12.5/100)3

= 16000 (112.5/100)3

= Rs 22781.25

∴ Amount is Rs 22781.25