Question

26. Compute the amount and compound interest on Rs 5000 compounded
annually for 2 years 6 months at the rate of 10% per annum.
ANSWERS​

Answer 1

Step-by-step explanation:

Principal = ₹5000

Time = 2+1/2 years =5/2 years

Rate=10%per annum

as we know,

formula for Amount(C.I.) =

P( 1 + rate/100 )^Time

»

$5000(1 + \frac{10}{100} ) { \frac{5}{2} }$

here we have to find in two steps........

first, with 2 years and another with 6 months

1. 5000×(1+10/100)^2

» Rs. 6050

2. 6050×(1+5/100)^1

» 6352.5

so that the final amount will be ₹6352.5

and c. I. will be 6352.5-5000=₹1352.5

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