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:

Principle (P)= 2500

no.of years = 2

p= 1 (compounded annually)

r = 8%

i = r/ 100p

i = 8/( 100*1)

i = 0.08

(1) solution : A= P (1+i)^n

A = 2500 ( 1+0.08) ^2

A= 2500 ( 1.08)^2

A = 2500(1.1664)

A= 2916

Compound interest = amount - principle

CI = 2916-2500

CI =416