Question

rs 31250 for 3 years at 8% per annum compound annually.

Answer 1

according to my answer the amount is 19682 and then the compound interest will be 31250 - 19682

Answer 2

Answer:

It would be rs 39366

Step-by-step explanation:

Since, the a,out formula in compound interest,

$A=P(1+r)^t$

Where,

P = principal amount,

r = rate per period,

t = number of periods,

Here, P = 31250, r = 8% = 0.08, t = 3 years,

Thus, the amount would be,

$A=31250(1+0.08)^3$

$=31250(1.08)^3$

= rs 39366