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Compound Interest — Maths STD 8 — Question

Maharashtra BoardEnglish MediumSTD 8MathsCompound Interest3 Marks
Question
By using the formula, find the amount and compound interest on.
Rs. 10240 for 3 years at $12\frac{1}{2}\%$ per annum compounded annually.
✓

Answer

Principal (P) = Rs. 10240 Rate (R) $12\frac{1}{2}\%=\frac{25}{2}\%\text{ p.a}$ Period (n) = 3 years $\therefore$ Amount (A) $=\text{P}\Big(1+\frac{\text{R}}{100}\Big)^{\text{n}}$ $=\text{Rs. }10240\Big(1+\frac{25}{2\times100}\Big)^3$ $=\text{Rs. }10240\times\Big(\frac{9}{8}\Big)^3$ $=\text{Rs. }10240\times\frac{9}{8}\times\frac{9}{8}\times\frac{9}{8}$ $=\text{Rs. }14580$ $\therefore$ C.I = A - P = Rs. 14580 - Rs. 10240= Rs. 4340.

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