Answer:
The Amount = 599..23 unit And Compound Interest = 74.23 unit
Step-by-step explanation:
Given The Principal = 525 unit
The rate of interest = 12%
The time period = 14 months = (1 + ([tex]\frac{1}{6}[/tex] ) years = [tex]\frac{7}{6}[/tex] = 1.167 years
Now from compound interest method
Amount = principal [tex](1 +\frac{Rate}{100})^{Time}[/tex]
Amount = 525 [tex](1 +\frac{12}{100})^{1.167}[/tex]
Amount = 525 ( 1.141 )
Amount = 599.23 unit
So, Compound Interest = Amount - principal
Or, CI = 599.23 - 525
Or, CI = 74.23 unit
Hence the Amount = 599..23 unit And Compound Interest = 74.23 unit
Answer
