Question

₹2000 for 2 years and 2months at 3% p. a. compounded annually​

Answer 1

Answer:

Rs.2141.8

Step-by-step explanation:

First find the Amount of 2 years. Which is

$= 2000(1 + \frac{3}{100} ) ^{2} \\ = 2000 \times \frac{103}{100} \times \frac{103}{100} \\ = \frac{10609}{5} \\ = 2121.8$

As for the 2months

The rate will become 3/6. As 2 month is 1/6 th of a year.

$= \frac{2000 \times 3 \times 2}{100 \times 6 } \\ \\ = \frac{2000 \times 6}{100 \times 6} \\ = \frac{2000}{100} \\ = 20$

Now add it to the Amount

So

$2121.8 + 20 = 2141.8$