Question

₹6,400 for 3 years at 4½% per annum compunded annually.​

Answer 1

Answer:

Compound Interest = 903.46 Rs.

Step-by-step explanation:

P= 6400 Rs.

n = 3 years

r= 4$\frac{1}{2}$ % = 9/2 %

Compound Amount  = $P(1+\frac{r}{100}) ^{n}\\= 6400 (1+ \frac{9/2}{100})^{3}\\= 6400 (1+ \frac{9}{200})^{3}\\= 6400 (\frac{209}{200})^{3}\\= 6400 * \frac{209}{200} * \frac{209}{200} * \frac{209}{200}\\= 7303 . 46 Rs.$

Compound interest = Total Amount - P

= 7303.46 - 6400

= 903.46 Rs.