Question

Sania took a loan of 16000 against her insurance policy at the rate of 12.5% per annum compounded annually. find the compound interest payable by her after 3 years​

Answer 1

Answer:

16000(1+12.5)^3

16000×(12.5)^3

interest =39366000-16000=39350000

Answer 2

Answer:

Step-by-step explanation:

Principle=16000

Time=3 yr

Rate=12.5%

=$CI=p$×$[\frac{R}{100}]^{T}$

=CI = 16000×$[\frac{12.5}{100}]^{3}$

=16000×$\frac{0.5}{4}$×$\frac{0.5}{4}$×$\frac{0.5}{4}$