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