Question

What is the compound interest on 48750 for 2.5 years at 12 pa?

Answer 1

Answer:

Step-by-step explanation:

It is given that Principal (P)=48750,

Rate of Interest(r )  = 12% ,  Time = 2.5 years

Here first we take n = 2 years.

Now, A=$P(1+\frac{r}{100})^{n}$

=$48750(1+\frac{12}{100})^{2}$

=$48750(\frac{112}{100})^2$

=$Rs 61152$

The Amount after two years = Rs61152.

Now Principal = Rs 61152, Simple interest for last ½ year is = $\frac{PRT}{100}$

=$\frac{61152{\times}6}{100}$

=$Rs 3669.12$

Amount after 2 ½ year =  Rs61152+Rs3669.12=Rs64821.12

Now, compound interest=A-P

=64821.12-48750

=Rs 16071.12