Question

By using formula, find amount and compound interest on :
rs 9000 for 2 years 4 months at 10% per annum compounded anually.

Answer 1

Answer:

Step-by-step explanation:

First we have to find simple interest for T=4 months=4/12P=9, 000 R=10S.I =(P×R×T)/100. . . =(9, 000×10×4)/(100×12). . =Rs300 Compound interest forP=9, 000T=2R=10%Amount=P(1+R/100)power n=9, 000(1+10/100)power 2=9, 000(1+1/10)power 2=9, 000{(10+1)}power 2 =9, 000(11)power 2=9, 000×11×11=Rs 1,08,900Amount =Rs 1,08,900Compound interest=1,08,900–9,000C.I=Rs 1,080,000Total C.I=Rs 1,08,000+Rs 300=1,08,300.

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