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Solution for Calculate the Amount and Compound Interest on Rs 10800 for 3 Years at 12 1/2 % per Annum Compounded Annually - CBSE Class 8 - Mathematics

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Question

Calculate the amount and compound interest on Rs 10800 for 3 years at `12 1/2` % per annum compounded annually.

Solution

Principal (P) = Rs 10, 800

Rate (R) =`12 1/2`% = `25/2` % (annual)

Number of years (n) = 3

Amount, A = `P(1 + R/100)^n`

= Rs `[10800(1+ 25/200)^3]`

= Rs `[10800 (225/200)^3]`

= Rs `(10800 xx 225/200 xx 225/200 xx 225/200)`

= Rs 15377.34375

= Rs 15377.34  (approximately)

C.I. = A − P = Rs (15377.34 − 10800) = Rs 4,577.34

  Is there an error in this question or solution?

APPEARS IN

 NCERT Solution for Mathematics Textbook for Class 8 (2015 to Current)
Chapter 8: Comparing Quantities
Ex.8.3 | Q: 1.1 | Page no. 133
Solution Calculate the Amount and Compound Interest on Rs 10800 for 3 Years at 12 1/2 % per Annum Compounded Annually Concept: Conept of Compound Interest.
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