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Ramesh boro 12000 from Raman for 2 years at 12.5% per annum find the amount payable by Ramesh at the end of 2 years when interest is compounded annually?
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Ramesh boro 12000 from Raman for 2 years at 12.5% per annum find the a...
Principal Amount:
Ramesh borrows 12000 from Raman.
Rate of Interest:
The rate of interest is 12.5% per annum.
Time Period:
The time period is 2 years.
Compound Interest Formula:
The formula to calculate compound interest is:
A = P(1 + r/n)^(nt)
Where:
A = the final amount including interest
P = the principal amount (initial investment)
r = the annual interest rate (as a decimal)
n = the number of times that interest is compounded per year
t = the number of years
Calculating the Amount Payable:
To calculate the amount payable by Ramesh at the end of 2 years when interest is compounded annually, we need to substitute the given values in the compound interest formula.
P = 12000 (principal amount)
r = 12.5% = 0.125 (interest rate as a decimal)
n = 1 (compounded annually)
t = 2 (time period)
Plugging in the values:
A = 12000(1 + 0.125/1)^(1*2)
Simplifying the expression:
A = 12000(1.125)^2
A = 12000(1.265625)
A = 15187.5
Therefore, the amount payable by Ramesh at the end of 2 years when interest is compounded annually is Rs. 15,187.50.
Ramesh borrows 12000 from Raman.
Rate of Interest:
The rate of interest is 12.5% per annum.
Time Period:
The time period is 2 years.
Compound Interest Formula:
The formula to calculate compound interest is:
A = P(1 + r/n)^(nt)
Where:
A = the final amount including interest
P = the principal amount (initial investment)
r = the annual interest rate (as a decimal)
n = the number of times that interest is compounded per year
t = the number of years
Calculating the Amount Payable:
To calculate the amount payable by Ramesh at the end of 2 years when interest is compounded annually, we need to substitute the given values in the compound interest formula.
P = 12000 (principal amount)
r = 12.5% = 0.125 (interest rate as a decimal)
n = 1 (compounded annually)
t = 2 (time period)
Plugging in the values:
A = 12000(1 + 0.125/1)^(1*2)
Simplifying the expression:
A = 12000(1.125)^2
A = 12000(1.265625)
A = 15187.5
Therefore, the amount payable by Ramesh at the end of 2 years when interest is compounded annually is Rs. 15,187.50.
Community Answer
Ramesh boro 12000 from Raman for 2 years at 12.5% per annum find the a...
The interest = 3,000
total amount to be given = 3000+ 24000= 27000
total amount to be given = 3000+ 24000= 27000
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Ramesh boro 12000 from Raman for 2 years at 12.5% per annum find the amount payable by Ramesh at the end of 2 years when interest is compounded annually?
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Ramesh boro 12000 from Raman for 2 years at 12.5% per annum find the amount payable by Ramesh at the end of 2 years when interest is compounded annually? for Class 8 2024 is part of Class 8 preparation. The Question and answers have been prepared according to the Class 8 exam syllabus. Information about Ramesh boro 12000 from Raman for 2 years at 12.5% per annum find the amount payable by Ramesh at the end of 2 years when interest is compounded annually? covers all topics & solutions for Class 8 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Ramesh boro 12000 from Raman for 2 years at 12.5% per annum find the amount payable by Ramesh at the end of 2 years when interest is compounded annually?.
Ramesh boro 12000 from Raman for 2 years at 12.5% per annum find the amount payable by Ramesh at the end of 2 years when interest is compounded annually? for Class 8 2024 is part of Class 8 preparation. The Question and answers have been prepared according to the Class 8 exam syllabus. Information about Ramesh boro 12000 from Raman for 2 years at 12.5% per annum find the amount payable by Ramesh at the end of 2 years when interest is compounded annually? covers all topics & solutions for Class 8 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Ramesh boro 12000 from Raman for 2 years at 12.5% per annum find the amount payable by Ramesh at the end of 2 years when interest is compounded annually?.
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