Question

4. Find the compound interest, correct to the
nearest rupee, on * 2,400 for 2 years at
5 percent per annum.​

Answer 1

We first calculate the C.I. for first 2 years and then the S.I. next

2

1

year.

For ,

N=2years

R=5 %

=>P=Rs2,400

And on interest being compounded we have,

Amount=P(1+

100

R

)

N

=2,400×(1+

100

5

)

2

=2,400×1.05

2

=Rs2,646

So, C.I for first 2 years =.=A−P=Rs2,646=Rs2,400=Rs246

This, Rs2,646 is the principal for the next

2

1

year.

So, S.I.=

100

PNR

=

100

2,646×

2

1

×5

=Rs66.15

Thus, total interest =Rs246+Rs66.15=Rs312.15

To the nearest rupee , it is Rs312

Answered By=shreyash. ...

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