Question

1. Find the compound interest when:
(a) Principal = 18,000, Rate = 14% pa, and Time - 3 years

please give me correct answer​

Answer 1

Answer:

Rs.4869

Step-by-step explanation:

Given,

Principal,P =Rs.18000, Rate,R = 10% and time period,n = 2.5 years.

We know, Amount when interest is compounded annually =

Amount after 2 years at 10% , A =

= Rs.21780

This acts as the principal amount for the next half year.

SI on next 1/2 year at =

= Rs. 1089

Therefore, Total amount to be paid after 2.5 years = Rs. (21780+1089) = Rs.22869

Now, Compound Interest after 2 years = A - P = Rs.(21780-18000) = Rs. 3780

Therefore, Compound Interest after 2.5 years, CI = Rs. 3780 + SI = Rs.4869