Q. 23.8( 45 Votes )

Find the amount a

Answer :

Present value = Rs.15625


Interest rate = 12% per annum


Time = 3 years


Amount (A) = P (1 + R/100)n [Where, P = Present value


R = Annual interest rate


n = Time in years]


A = 15625 (1 + 12/100)3


A = 15625 (112/100)3


A = 15625 (28/25)3


A = 15625 × 21952/15625


A = 21952


Amount = Rs.21952


Compound interest = Rs.(21952 – 15625)


= Rs.6327


Rate this question :

How useful is this solution?
We strive to provide quality solutions. Please rate us to serve you better.
Try our Mini CourseMaster Important Topics in 7 DaysLearn from IITians, NITians, Doctors & Academic Experts
Dedicated counsellor for each student
24X7 Doubt Resolution
Daily Report Card
Detailed Performance Evaluation
caricature
view all courses
RELATED QUESTIONS :

Find the amount aRS Aggarwal - Mathematics

A scooter is bougRS Aggarwal - Mathematics

The sum that amouRS Aggarwal - Mathematics

The difference beRD Sharma - Mathematics

The annual rate oRS Aggarwal - Mathematics

Find the amount aRS Aggarwal - Mathematics

Find the amount oRS Aggarwal - Mathematics

Fill in the blankRS Aggarwal - Mathematics

The compound inteRS Aggarwal - Mathematics