Question

2. Find the amount for the following, when it is given that the principal is compounded annually
Principal = 16,000.rate=2.5 pa and time = 3 years 9 months​

Answer 1

Answer:

Amount =17500

Step-by-step explanation:

we will take time as 45/12 because 1 year has 12 months therefore 3 years and 9 months would be equal to 45 months

and for converting months into year we need to divide the no.of months by 12

therefore I have written it as 45/12 not as 3 years and 9 months.

S.I=16000 X 45 X 2.5/12 X 100

S.I= 1500

AMOUNT= S.I + PRINCIPAL

AMOUNT= 17500

HOPE IT'S CLEAR

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