Calculate the amount of ₹ 31250 at the end of q 5/2
years , compounded annually at 8% per annum​

2 thoughts on “Calculate the amount of ₹ 31250 at the end of q 5/2<br />years , compounded annually at 8% per annum​”

1. Answer:

   7

   Step-by-step explanation:

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2. Given:

   Present value = ₹ 31250

   Interest rate = 8% per annum

   Time = 5/2

   To find the amount we have the formula,

   Amount (A)=P(1+(r/100))n

   where P is present value, r is rate of interest, n is time in years

   Now substituting the values in above formula we get,

   ∴A = 31250(1+(8/2)/100)⁵

   ⇒A=31250(1+4/100)⁵

   ⇒A=31250(1+1/25)⁵

   ⇒A=31250(26/25)⁵

   ⇒A=31250× 11,881,376 / 9,765,625

   ⇒A= ₹ 38,020.4032

   ∴ Compound interest = A–P

   = 35452–31250 = ₹ 3902

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