Last updated at Dec. 16, 2024 by Teachoo
Question 1 1 (a) Calculate the amount and compound interest on (a) Rs 10,800 for 3 years at 12 1/2 % per annum compounded annually Given, Principal (P) = 10, 800 Time = 3 years Rate (R) = 12 1/2 per Annum compounded Annually. = 25/2 % Amount (A) = P (1+๐ /100)^๐ = 10,800 (1+(25/2)/100)^3 = 10,800 (1+25/(2 ร 100))^3 = 10,800 (1+1/(2 ร4))^3 = 10,800 (1+1/8)^3 = 10,800 ((8 + 1)/8)^3 = 10,800 ร (9/8)^3 = 10,800 ร (9 ร 9 ร 9 )/(8 ร 8 ร 8 ) = 5400 ร (9 ร 9 ร 9 )/(4 ร 8 ร 8 ) = 2700 ร (9 ร 9 ร 9 )/(2 ร 8 ร8 ) = 2700 ร (81 ร 9 )/(2 ร 64 ) = 2700 ร 729/(128 ) = 2700 ร 729/(128 ) = 1968300/(128 ) = 15377.34 โด Amount after 3 years = Rs 15,377.34 Now, Amount = Principal + Interest 15377.34 = 10800 + Interest 15377.34 โ 10800 + Interest 4577.34 = Interest โด Interest = Rs 4,577.34
About the Author
Davneet Singh has done his B.Tech from Indian Institute of Technology, Kanpur. He has been teaching from the past 14 years. He provides courses for Maths, Science and Computer Science at Teachoo