Question

Rs. 10,800 for 3 years at 12 1/2 percent per annum compounded annually? calculate the amount and compound interest.

Answer 1

We know that

compounded Amount= CA = P((1+i)^n

P = Principal Amount = 10800

i = Rate of interest Per Annum =12 1/2 % =12.5%

n = Time = 3 years

CA= 10800(1 + 12.5/100)^3

= 10800(1 + 0.125)^3

=10800(1.125)^3

=10800 (1.42382)

= 15377

Compound Interest = Compounded Amount - Principal Amount

= 15377 - 10800

=4577

Answer 2

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Refer the attachment.