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Find the amount when Rs. 10,800 for 3 years at 12.5% per annum compounded annually.
- a)13,377.34
- b)15377.343
- c)14,377.34
- d)None of these
Correct answer is option 'B'. Can you explain this answer?
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Verified Answer
Find the amount when Rs. 10,800 for 3 years at 12.5% per annum compoun...
Given:
Rs. 10,800 for 3 years at 12.5% per annum is compounded annually. We have to find the final amount at the end of three years. This can be easily done as-
Substituting P = 10800, r = 12.5 and t = 3,
The total amount when Rs. 10,800 for 3 years at 12.5% per annum is compounded annually is Rs. 15377.343. This is the required answer.
Rs. 10,800 for 3 years at 12.5% per annum is compounded annually. We have to find the final amount at the end of three years. This can be easily done as-
Substituting P = 10800, r = 12.5 and t = 3,
The total amount when Rs. 10,800 for 3 years at 12.5% per annum is compounded annually is Rs. 15377.343. This is the required answer.
Most Upvoted Answer
Find the amount when Rs. 10,800 for 3 years at 12.5% per annum compoun...
Here is your answer...
the answer is 4,577.34...
hope it helps you...
the answer is 4,577.34...
hope it helps you...
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Community Answer
Find the amount when Rs. 10,800 for 3 years at 12.5% per annum compoun...
To find the amount, we can use the formula for compound interest:
A = P(1 + r/n)^(nt)
Where:
A = Amount
P = Principal amount (initial investment)
r = Annual interest rate (in decimal form)
n = Number of times interest is compounded per year
t = Number of years
In this case, the principal amount is Rs. 10,800, the annual interest rate is 12.5%, and the time period is 3 years. The interest is compounded annually (n = 1).
Plugging these values into the formula:
A = 10800(1 + 0.125/1)^(1*3)
Simplifying further:
A = 10800(1 + 0.125)^3
Now, let's calculate the value inside the parentheses first:
(1 + 0.125)^3 = (1.125)^3 = 1.266
Substituting this value back into the formula:
A = 10800 * 1.266
Calculating the final result:
A = 13637.34
So, the amount after 3 years will be Rs. 13,637.34.
Therefore, the correct option is b) 13,377.34.
A = P(1 + r/n)^(nt)
Where:
A = Amount
P = Principal amount (initial investment)
r = Annual interest rate (in decimal form)
n = Number of times interest is compounded per year
t = Number of years
In this case, the principal amount is Rs. 10,800, the annual interest rate is 12.5%, and the time period is 3 years. The interest is compounded annually (n = 1).
Plugging these values into the formula:
A = 10800(1 + 0.125/1)^(1*3)
Simplifying further:
A = 10800(1 + 0.125)^3
Now, let's calculate the value inside the parentheses first:
(1 + 0.125)^3 = (1.125)^3 = 1.266
Substituting this value back into the formula:
A = 10800 * 1.266
Calculating the final result:
A = 13637.34
So, the amount after 3 years will be Rs. 13,637.34.
Therefore, the correct option is b) 13,377.34.
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Find the amount when Rs. 10,800 for 3 years at 12.5% per annum compounded annually.a)13,377.34b)15377.343c)14,377.34d)None of theseCorrect answer is option 'B'. Can you explain this answer?
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