Question

Vijay obtain a loan of 64000 against his fixed deposits. if the rate of interest be Peisa per 1 rupee per annum, calculate the compound interest payable after 2 years

Answer 1

********. P = Rs. 64000  ***********




r = 2.5 paise per rupee per annum


________





= 0.025 rupee per rupee per annum 


.
= 0.025 x 100 rupee per hundred rupee per annum 




= 0.025 x 100 per cent per annum 




= 2.5 per cent per annum 




t = 3 years 

C.I. = 6400[(1 + 2.5/100)3 - 1]



= 64000[(1.025)3 - 1]



= 64000[1.0769 - 1]




= 64000 x 0.0769 



= 4921.6 




= Rs. 4921 




∴ The compound interest payable is Rs. 4921.
$The \\ compound \\ interest \\ payable \\ is \\ Rs. = 4921.$

Answer 2

Here,

P= Rs 64000, n=3 years and R=2.5 paise per rupee per annum.

=0.025 rupees per rupees per annum

=0.025×100 rupees per annum

=2.5% per annum

So, amount after three years =P(1+2.5/100)^3

=Rs68921

Hence, C.I. payable after 3 years= Rs68921-Rs64000=Rs4921