Question

4000 at 10% per annum for 2 years 3 months, compounded
The compound interest on
annually, is​

Answer 1

Answer:

Hope it helps you.....!!!

Answer 2

Principal(P) = Rs 4000

Rate of Interest(r ) = 10%

Time = 2 years and 3 months

Here first we take n = 2 years.

A = P( 1 + r /100)n Where A = Amount and n = number of years

A = 4000 (11/10)2

A = 4000 ( 121 / 100 )

A = Rs 4840

The Amount after two years = Rs 4840

Now Principal = Rs 4840

Simple interest for last 3 month i.e 1/4 year is = PRT/100 = (4840 × 10 × 1 / 4) / 100 = Rs.121

Amount after 2 years and 3 months = Rs 4840 + Rs 121 = Rs 4961

C.I = A - P

C.I = 4961 - 4000 = Rs. 961

∴ The compound interest is Rs. 961