₹18000 for 2½ years at 10% per annum compounded annually.
Answers
Answered by
6
Answer:
I = interest , P principal , R = rate, T = Time and A = Amount
Interest for first year :-
p = 18000
r = 10%
t = 1 year
I = p×r×t/100
= 18000×10×1/100
= 1800
A = I + p
= 19800
Interest for second year :-
p = 19800 (rate is same for all year)
t = 1 year
I = p×r×t/100
= 19800×10×1/100
= 1980
A = I + p
= 1980 + 19800
= 21780
Interest for half year
p = 21780
I = p×r×t/100
= 21780×10×1/100×2
= 1089
A = I + p
= 1089 + 21780
= 22869
CI = final amount - initial principal
= 22869 - 18000
= 4869
Similar questions