find the amount and the compound interest on rupees 31 to 50 for 3 years at 12% per annum compounded annually
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find the amount and the compound interest on rupees 31 to 50 for 3 years at 12% per annum compounded annually
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Answer:
Given,
Principal=Rs. 31250
Rate r=8%
Time =3 years
Amount=p(1+
100
r
)
t
=31250(1+
100
8
)
3
=31250×(
100
108
)
3
=39,366Rs
compound=amount−principal
=39,366−31250
=Rs. 8116.