Question

Aparna borrows a sum of $2500 for 2 years
3 months at 8% p.a. compounded annually.
Find
(i) the CI for 2 years
(ii) the amount at the end of 2 years
3 months.
​

Answer 1

Step-by-step explanation:

p=2500 T=2.3 R=8

I= P×R×N

100

I=2500×2.3×8

100

I=25×2.3×8

I=200×2.3

I=460.0

I=460

A=P-I

A=2500-460

A=2040

THE CI FOR 2 YEARS