Question

calculate the amount and compound interest on rupees 8000 on 2 years 9 months @ 10% per annum compounded annually​

Answer 1

Given:

Principal amount, P = 8000,

time = 2 years 9 months

Rate of interest = 10%

To find: amount and compound interest.

Solution:

    Step 1:

                  P = 8000

                  T = 2 years 9 months

                  R = 10%

because interest is calculated annually,

                  n= 2 + 3/4

            so,

                 A = P(1+ R/100)ⁿ

                     = P × (1 + $\frac{10}{100}$)² × (1 + ($\frac{3/4}{100}$) × 10)¹

                     = 8000 × ( 11/10)² × (43/40)

                     = 10406

so, amount is 10406 rs.

Step 2:

                   compound Interest = 10406 - 8000

                                                    = 2406 rs.

answer:

              Amount is 10406 rs

              compound interest is 2406 rs.

Answer 2

Given :   rupees 8000 on 2 years 9 months @ 10% per annum compounded annually​

To find  :  amount and compound interest

Solution:

P = 8000

R = 10 % per annum

T or n  = 2 Years  9 Months

1st we will find amount after 2 years using CI formula

A = P (1  + R/100)ⁿ

A = 8000 ( 1   + 10/100)²

=> A = 8000 ( 1.1)²

=> A = 9680  Rs

Now we will calculate simple interest for 9 months

SI = P * R * T /100

P = 9680

R = 10 %

T = 9 months = 9/12 years  = 3/4  years

SI = 9680 * 10  * (3/4)/100   =   Rs 726

Final amount = 9680 + 726  =   Rs 10406

Interest  = 10406 - 8000 = Rs 2406

Amount = Rs 10406

CI = Rs 2406

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