Question

4. Find the compound interest, correct to the nearest rupee, on Rs.2400 for 2½ years at 5 percent per annum.​

Answer 1

Answer:

Principle=2400,time=

2

5

,rateofinterest=5%

Amount=P(1+

100

R

)

t

⇒2400(1+

100

5

)

2

5

⇒2400×

100

105

×

100

105

×

100

102.5

⇒

100000

24×105×105×1025

⇒

100000

271215000

⇒2712.15Rs.

C.I.=2712.15−2400=312Rs.