Question

2. Calculate the interest on 30,000 at 12% per annum compounded annually for 3.5 years.


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Answer 1

Answer:

P=Rs.30,000,T=2years and R=10%

⇒A=P(1+R/100)t

⇒A=30000×(1+10/100)²

⇒A=30000×11/10×11/10

∴ A=Rs.36300

⇒C.I.=A−P=Rs.36300−Rs.30000=rs6300

Hope it helps you.

Answer 2

Answer:

A = P(1 + r/n)nt

A = Accrued amount (principal + interest)

P = Principal amount.

r = Annual nominal interest rate as a decimal.

R = Annual nominal interest rate as a percent.

r = R/100.

n = number of compounding periods per unit of time.

t = time in decimal years; e.g., 6 months is calculated as 0.5 years.

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Step-by-step explanation:

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