Question

Q7. Find the compound interest on ₹ 31,250 at 12% pa for 2.5 years. Please tell Step by Step ​

Answer 1

Given :-

• Principal = ₹ 31250

• Rate = 12%

• Time = 2.5yrs

To find :-

• Compound interest.

Formula used :-

• $a \: = p(1 + \dfrac{r}{100})t$

• $c.i. = amount - principal$

Step-by-step-explanation :-

$a = 31250(1 + \dfrac{12}{100}) \dfrac{25}{10}$

$= 31250( \dfrac{100 + 12}{100}) \dfrac{25}{10}$

$= 31250( \dfrac{112}{100}) \dfrac{25}{10}$

$= 3125 \times 28$

$= 87500$

Thus amount = ₹ 87,500

___________

Compound interest :-

= Amount - Principal

= 87500 - 31250

= 56250

∴ C.I. = ₹ 56,250