Question

Calculate the amount and compound interest on ₹ 18,000 for 2 and a 1/2 years at 10% per annum compounded annually. IN STEPS PLEASE.

Answer 1

Answer:

Comparing Quantities

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.

Step-by-step explanation:

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Answer 2

Step-by-step explanation:

Here, the principal amount is P=18000, time is 221 and rate of interest is 1221% and we know that the formula to calculate amount is A=P[1+100R]n, so let us first calculate the amount for 2 years as follows:

A=P[1+100R]n

=18000[1+10010]2

=18000[1+101]2

=18000[1011]2

=18000×1011×1011

=21780

Thus, the amount is Rs. 21780

Now, to find the compound interest for 2 years, we subtract the principal amount from the total amount as follows:

C.I=21780−18000=3780

Now let us find the half year compound interest as shown below:

21780×10010×21=2021780=1089

Total compound interest after 2.5 years is 3780+1089=Rs4869.

And, the amount = P+I = 18000+4869=Rs22869