Question

50000 were lent for 2 and half years at 8% p.a. compound interest find the compound interest to be paid at the end​

Answer 1

Answer:

P =50000

T=5/2 year

R=8% p.a

therefore , C.I = P(1+r/100)^n-P

= 50000(1+8/100)^2(1+6*8/100*12)-50000

=50000(27/25)^2(26/25)-50000

=80*27^2(26/25)-50000

16*729(26/5)-50000

116644(26/5)-50000

=23328.8*26-50000

=556548.8