calculate the amount and CI on rs 18000 for 2 and a half years at 10 %per annum compounded annually
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Calculate the amount and compound interest on Rs 18,000 for 21/2 years at 10% per annum compounded annually. , R = 10% p.a. ∵ Interest is compounded annually. Kamala borrowed Rs 26,400 from a Bank to buy a scooter at a rate of 15% p.a. compounded yearly.
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Answer : here p = 18000 , t = 2 1/2 years , r = 10% p.a
interest is compounded annualy
n = 2 + 1/2
a = p [1+r/100]^n
=p[1+10/100]^2 [1+1/2(10)/100]
= rs 18000[11/10]^2 [21/20]
=Rs 18000 (11/10) (11/10) (21/20) =Rs (9)(11)(11)(21)
=Rs 22869
amount =rs 22869
cl= Rs 22869- Rs 18000 =Rs 4869
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