Compute the amount and the compound interest by using the formulae whe – InterviewSolution

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1.

Compute the amount and the compound interest by using the formulae when : Principal = Rs 12800, Rate = 7 ½ %, Time = 3 years.

Answer»

Given, P = Rs 12800, rate = 7 ½ % = 15/2% = 7.5%, time = 3years

A = P (1 + R/100)ⁿ

= 12800 (1 + 7.5/100)³

= 12800 (107.5/100)³

= Rs 15901.4

Compound interest (CI) = A-P = Rs 15901.4 – 12800 = Rs 3101.4

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