CTET 2 Math and Science Sep 2016 Paper

Question : 52 of 150

Marks: +1, -0

A sum of ₹6,250 at 8% per annum, compounded annually, after 3 2 4 years amounts to :

Solution:

Since, the principal P = Rs 6250, rate R = 8% and time

t=2\;\;{3}/{4}

years
Amount

{A}={P}(1+\;\;{{R}}/{100})^{{t}}⋅(1+\;\;{\;\;{3}/{4}/{R}}{100})

=6250(1+\;\;{8}/{100})^{2}⋅(1+\;\;{\;\;{3}/{4}8}/{100})

=\;\;{3867}/{5}

=\Rs7727.40

Hence, the required amount is

\Rs7727.40

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