Calculate the amount and compound interest on: ₹ 10,800 for 3 years at 12 (1/2) % per annum compounded annually.

Here, Principal (P) = ₹ 10800, Time (n) = 3 years,
Rate of interest (R) = 12 (1/2) % = 25/2 %
Amount (A) = P(1+ R/10)ⁿ = 10800(1+25/2×100)³ = 10800 (1+ 1/2×4)³
= 10800 (1+1/8)³ = 10800(9/8)³ = 10800 x 9/8 x 9/8 x 9/8 = ₹ 15,377.34
Compound Interest (C.I.) = A – P = ₹ 10800 – ₹15377.34 = ₹4,577.34

Class 8 Maths Chapter 8 Exercise 8.3 Solution in Video

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