EXERCISE 11.1
1. Using the formula, calculate the amount and the CI in each of the following:
(b) P = 2500; R = 8% p.a.; n = 3 years
1. Using the formula, calculate the amount and the CI in each of the following:
(b) P = 2500; R = 8% p.a.; n = 3 years
Answers & Comments
Answer:
25.008
Step-by-step explanation:
25.008 the calulate by
Verified answer
Step-by-step explanation:
CI=p{(1+r/100)^t-1}
=2500{(1+8/100)³ -1}
=2500{(108/100)³-1}
=2500(1259712/1000000-1)
=2500×259712/1000000
=649.28 rs
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