Question

Calculate the amount and the compound interest on rs 24000 for 1^1/2 years at 10℅ per annum compounded annually.

Answer 1

Hi, Dear here ur answer.
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GIVEN÷
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PRINCIPAL=24000
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YEARS=1 half

COMPOUND INTEREST FOR 1 YR
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CI=P×(1+%/100)^yrs

REPLACING THE VALUE
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CI=24000×(1+10/100)^1

CI=24000×(110/100)^1

CI=24000×11/10

CI=2400×11

CI=26400

NOW 1/2 YRS
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P×R×T/100

26400×10×1/2/100

=264×10×1/2

=264×5
=1,320

So, TOTAL COMPOUND INTEREST=
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26400+1320

=27,720
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