Question

Rs 31250 for 3 years at 8% per annum compounded annually.

Answer 1

Answer:

39366

Step-by-step explanation:

Amount = Principal [1+r/100]^time

= 31250[1+8/100]^3

= 31250× 108×108×108/1000000

= 31250× 1259712/1000000

= 39366Rs.

Answer 2

Answer:

Amount: Rs. 39366

Compound Interest: Rs 8116

Step-by-step explanation:

Given,

Principal: Rs. 31250

Time (in years): 3

Rate% per annum: 8

Amount (in CI): P×(1+R/100)^n

→31250×(1+8/100)^3

→31250×(1+2/25)^3

→31250×[(25+2)/25]^3

→31250×(27/25)^3

→31250×(27/25)×(27/25)×(27/25)

→39366

Amount: Rs. 39366

Compound Interest: Amount-Principal

→39366-31250

→Rs. 8116

Hence, the Amount and Compound Interest are Rs. 39366 and Rs. 8116, respectively.

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