Question

rs 62500 for 2 years 6 mdewonths at 12% per annum compounded annually.

Answer 1

Formula for Compound Interest- A=P(1+R/100)^n

P=62500

R=12

N=2.5

A=62500(1+12/100)^2.5

A=62500(1+12/100)^2(1+6/100)

A=62500*1.12*1.06

A=74200

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