Find the amount and compound interest on $R s .15625$ for $3$ years at $12$ % per annum compounded annually.

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Solution

$G i v e n d a t a P r i n c i p l e A m o u n t (P) = 15, 625$
$R a t e o f interest (r) = 12 % a n n u a l l y$
$T i m e (n) = 3 y e a r$
$n o w f o r m u l a t e o f c o m p o u n d interest (C . I) = P [{(1 + \frac{r}{100})}^{n} - 1]$
$= 15, 625 [{(1 + \frac{12}{100})}^{3} - 1]$
$= 15, 625 [\frac{112}{100} \times \frac{112}{100} \times \frac{112}{100} - 1]$
$= 15, 625 [1.4049 - 1]$
$= 15, 625 \times 0.404928$
$= 6, 327$
$n o w c o m p o u n d interest w i l l b e = 6, 327 R s .$
$& t o t a l a m o u n t w i l l b e = 15625 + 6327 = 21, 952 R s .$

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Find the amount and compound interest on Rs.15625 for 3 years at 12% per annum compounded annually.

Find the amount and compound interest on $R s .15625$ for $3$ years at $12$ % per annum compounded annually.