Question

calculate the amount and compound interest on rs.16000at 15% per annum for 2 1/3 years

Answer 1

Answer:

P= rs16000

R= 15%

T= 2 1/3 years

A= P(1+r/100)^2*(1+r/100*3)^1

= 16000(1+15/100)^2*(1+15/300)

=16000(23/20*23/20)* 21/20

=16000*23/20*23/2*21/20

=22,218

CI= A-P

= 22,218-16,000

= 6,218