an amount of 10000 is invested for one year 3 month at rate of seven and half persent per annum compund annually
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In the question,
Principal Amount, P = 10000 Rs.
Time, t = 1 year 3 months = 5/4 = 1.25 years
Rate of Interest, r = 17/2 = 8.5%
So,
From the formula of Compound Interest, we can say that,
Therefore, on putting the respective values in the given equation of the Compound Interest, we get,
Therefore, the Compound Interest is given by,
CI = 1073.557 Rs.
Step-by-step explanation:
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