Question

calculate the amount and compound interest without using formula on ₹8000 in 2 and half years at 15% per annum​

Answer 1

Step-by-step explanation:

Given,

Principal = 8000

Time = 2 1/2 years

Rate = 15%

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Amount = Principal (1 + rate/100)^t

= 8000 (1 + 15/100)^2 (1/2)

Here 2 years will be computed separately and 1/2 years will be computed separately. And in the case of 1/2 years, time will get multiplied with the rate.

= 8000 (1 + 15/100)² (1 + 15/100 * 1/2)

= 8000 (1 + 15/100)² (1 + 15/200)

= 8000 (1 + 3/20)² (1 + 3/40)

= 8000 x 23/20 x 23/20 x 43/40

= 11373.5

Compound interest is = 11373.5 - 8000

= 3373.5

Hence amount is 11373.5 rupees and CI is 3373.5 rupees.