Question

Find the amount in ₹10800 for 3 years at $12\frac{1}{2}\%$ per annum compounded annually( with process)

Answer 1

We are given principal = 10800 , Time = 3 years and Rate = $12\frac{1}{2}\%$ means 12.5 %

Now , we will use this formula to find Amount

$A=P(1+\frac{r}{100}{)}^t$

$A=10800(1+\frac{12.5}{100}{)}^3$

$A=10800(1+0.125{)}^3$

$A=10800(1.125{)}^3$

$A=10800\left(1.125\right)\times \left(1.125\right)\times \left(1.125\right)$

$A=10800\left(1.4238\right)$

$A=15377.34$