Question

to her
8. Find the compound interest on
31250 at 8%
per annum for
2
years.
-
en​

Answer 1

Answer:

C.I = 5200

Step-by-step explanation:

Here given that

Principal (P) = 31250

Rate of interest (I) = 8%

Time (T) = 2 years

Using compound interest formula

C.I = P[(1+I/100)^T - 1]

     = 31250 [( 1 + 8/100)^2 - 1]

     = 31250 [( 1 +2/25)^2 - 1]

     = 31250 [ (27/25)^2 -1 ]

     = 31250 [(729/625) - 1]

     = 31250 [(729-625)/625]

     = 31250*(104/625)

Dividing by 625. We get,

C.I = 5200