Question

calculate the amount of rs.30000at the end of 2 years 4 months,compounded annually at 10% per annum.

Answer 1

Principal(P)  = Rs 30000    

Rate of Interest(r )  = 10%

Time = 2.1/3 years

Here first we take n = 2 years.

A = P( 1 + r /100)n  Where  A = Amount  and n = number of years

A =30000 (11/10)2

A = 30000 ( 121 / 100 )

A = Rs 36300

The Amount after two years = Rs 36300

Now Principal = Rs 36300

Simple interest for last 1/3 year is = PRT/100  =  (36300× 10 × 1 / 3) / 100 = Rs.1210

Amount after 2 1/3 year =  Rs 36300 +  Rs 1210 = Rs 37510 ANS.

Answer 2

(P)  = Rs 30000  

(r )  = 10%

T = 2.1/3 years

time  [n] = 2 years.

A = P( 1 + r /100)n  

A =30000 (11/10)2

A = Rs 36300

The Amount after 2 years = Rs 36300

 Principal = Rs 36300

SI for last 1/3 year is = PRT/100  =  (36300× 10 × 1 / 3) / 100 = Rs.1210

amount after 2 1/3 year =  Rs 36300 +  Rs 1210 = Rs 37510 ans