Question

Find the amount and compound interest on Rs 62500 for 1 1/2 years at 8 per annum compounded annually

Answer 1

principal(P)= 62500

time(T)= 11/2 = 5.5 years

rate(R)= 8%

find

interest(I) and amount(A)

solution

"

I= P*T*R

--------

100

I= 62500*5.5*8

--------------------

100

I = 2750000

-----------

100

I = 27500

Now,

A= P - I

A= 62500-27500

A= Rs 35000