Class 8 Exam > Class 8 Questions > Find the amount and compound interest on a su...
Start Learning for Free
Find the amount and compound interest on a sum of rs 15625 at 4% per annum for 3 years compounded annually?
Most Upvoted Answer
Find the amount and compound interest on a sum of rs 15625 at 4% per a...
Principal amount: Rs 15625
Rate of interest: 4% per annum
Time: 3 years
Compound interest: ?
To calculate the compound interest, we can use the formula:
A = P (1 + r/n)^(nt)
Where:
A is the future amount (including interest)
P is the principal amount
r is the rate of interest (in decimal form)
n is the number of times interest is compounded per year
t is the time in years
In this case, the principal amount (P) is Rs 15625, the rate of interest (r) is 4% (or 0.04 in decimal form), the time (t) is 3 years, and the interest is compounded annually (n = 1).
Calculation:
A = 15625 (1 + 0.04/1)^(1*3)
A = 15625 (1 + 0.04)^3
A = 15625 (1.04)^3
A = 15625 * 1.124864
A = 17500
The future amount (including interest) after 3 years will be Rs 17500.
To calculate the compound interest, we can subtract the principal amount from the future amount:
Compound interest = A - P
Compound interest = 17500 - 15625
Compound interest = Rs 1875
Amount: Rs 17500
Compound interest: Rs 1875
Conclusion:
After 3 years, the amount will be Rs 17500 and the compound interest earned will be Rs 1875.
Rate of interest: 4% per annum
Time: 3 years
Compound interest: ?
To calculate the compound interest, we can use the formula:
A = P (1 + r/n)^(nt)
Where:
A is the future amount (including interest)
P is the principal amount
r is the rate of interest (in decimal form)
n is the number of times interest is compounded per year
t is the time in years
In this case, the principal amount (P) is Rs 15625, the rate of interest (r) is 4% (or 0.04 in decimal form), the time (t) is 3 years, and the interest is compounded annually (n = 1).
Calculation:
A = 15625 (1 + 0.04/1)^(1*3)
A = 15625 (1 + 0.04)^3
A = 15625 (1.04)^3
A = 15625 * 1.124864
A = 17500
The future amount (including interest) after 3 years will be Rs 17500.
To calculate the compound interest, we can subtract the principal amount from the future amount:
Compound interest = A - P
Compound interest = 17500 - 15625
Compound interest = Rs 1875
Amount: Rs 17500
Compound interest: Rs 1875
Conclusion:
After 3 years, the amount will be Rs 17500 and the compound interest earned will be Rs 1875.
Attention Class 8 Students!
To make sure you are not studying endlessly, EduRev has designed Class 8 study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in Class 8.
|
Explore Courses for Class 8 exam
|
|
Similar Class 8 Doubts
Top Courses for Class 8View all
Find the amount and compound interest on a sum of rs 15625 at 4% per annum for 3 years compounded annually?
Question Description
Find the amount and compound interest on a sum of rs 15625 at 4% per annum for 3 years 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 Find the amount and compound interest on a sum of rs 15625 at 4% per annum for 3 years compounded annually? covers all topics & solutions for Class 8 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Find the amount and compound interest on a sum of rs 15625 at 4% per annum for 3 years compounded annually?.
Find the amount and compound interest on a sum of rs 15625 at 4% per annum for 3 years 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 Find the amount and compound interest on a sum of rs 15625 at 4% per annum for 3 years compounded annually? covers all topics & solutions for Class 8 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Find the amount and compound interest on a sum of rs 15625 at 4% per annum for 3 years compounded annually?.
Solutions for Find the amount and compound interest on a sum of rs 15625 at 4% per annum for 3 years compounded annually? in English & in Hindi are available as part of our courses for Class 8.
Download more important topics, notes, lectures and mock test series for Class 8 Exam by signing up for free.
Here you can find the meaning of Find the amount and compound interest on a sum of rs 15625 at 4% per annum for 3 years compounded annually? defined & explained in the simplest way possible. Besides giving the explanation of
Find the amount and compound interest on a sum of rs 15625 at 4% per annum for 3 years compounded annually?, a detailed solution for Find the amount and compound interest on a sum of rs 15625 at 4% per annum for 3 years compounded annually? has been provided alongside types of Find the amount and compound interest on a sum of rs 15625 at 4% per annum for 3 years compounded annually? theory, EduRev gives you an
ample number of questions to practice Find the amount and compound interest on a sum of rs 15625 at 4% per annum for 3 years compounded annually? tests, examples and also practice Class 8 tests.
|
|
Explore Courses for Class 8 exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup