Find the amount and compound interest on
[tex]p = rs40960 \: at \frac{25}{4} \% \: \: \\ and \: time = 3years[/tex]
[tex]p = rs40960 \: at \frac{25}{4} \% \: \: \\ and \: time = 3years[/tex]
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Verified answer
Step-by-step explanation:
Correct option is A)
Principal amount, (P)=Rs.25,625
Rate of interest, (r)=4%
Time, (n)=3
Amount, (A)=?
Compound interest, (C.I.)=?
As we know that,
A=P(1+
100
r
)
n
⇒A=25625×(1+
100
4
)
3
⇒A=25625×(
25
26
)
3
⇒A=25625×
15625
17576
⇒A=Rs.28824.64≈Rs.28825
Compound interest, (C.I.)=A−P
⇒C.I.=28825−25625=Rs.3200
Hence, (A) is the correct answer.