What will be the compound interest for₹ 6,250 at 8% pa compounded annually for 2 years?
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❅GIVEN:
➛ Principal amount P = rs. 6250
➛ Rate R = 8%
➛ Time T = 2 years
❅FIND:
➛ Amount = ?
➛ Compound Interest = ?
❅SOLUTION:
we, know that
where,
⤳P = rs. 6250
⤳R = 8%
⤳T = 2 years
substitute these values in the formula so, we have
now, take the lcm
now,
now, we know that
where,
Amount = rs. 7290
Principal = rs. 6250
substitute these values in the formula so, we have
➛ Principal amount P = rs. 6250
➛ Rate R = 8%
➛ Time T = 2 years
❅FIND:
➛ Amount = ?
➛ Compound Interest = ?
❅SOLUTION:
we, know that
where,
⤳P = rs. 6250
⤳R = 8%
⤳T = 2 years
substitute these values in the formula so, we have
now, take the lcm
now,
now, we know that
where,
Amount = rs. 7290
Principal = rs. 6250
substitute these values in the formula so, we have
Answers
Answered by
6
Answer:
The compound interest accumulation formula is : A = P(1+i)^n
where ,
P= the principal amount
A = accumulated amount
I = interest rate
n = time in years
P = 6250
n= 2+9/12= 2 .75 years
I = 8 % = 8/100=0.08
Doing the substitution,
A = P(1 + i)^n
A = 6250(1 + 0.08)^2.75
= 6250(1.08)^2.75
= 6250(1.2357)
=7723.125
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Answered by
2
Step-by-step explanation:
given that ,
CI = rs6250
R= 8%p.a
T=2 years
we know that ,
A= p(1+r/100)n
= 6250(1+8/100)2
= 6250(9/100+9/100)
= 6250×9/100+9/100)
= 625× 9/10+9/100
=625×9+9/1000
= 625×18/1000
= 11250/1000
= 11.25
Therefore compound interest = A - P
= 11.25 - 6250
=-6238.75
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