Question

Rs 62500for 2years 6months at 12% per annum compounded annuallyfind amount and compound interest

Answer 1

Principle=62500Rs
time =2.5years
rate of interest =12%

I=PTR/100
=62500*1*12/100
=7500
A=P+I
=62500+7500
=70000
this will be our new principle
Again
I=PTR/100
=70000*12*1/100
=8400
again A=P+I
A=8400+70000
=78400