Question

Calculate the amount on 18000 for 2 1/2yrs at 10% per annum compounded annually

Answer 1

Given

P=18000

T=2 1/2 yr

R=10%

A=p(1+r/100)^n

First we will calculate for 2 yr (n=2)

A=18000(1+10/100)²

A=18000(110/100)²

A=18000(11/10)²

A=18000x 11/10 x 11/10

A=180 x 11 x 11

A=180x121

A=21780

Amount after 2yr =21780

Now time is 1/2 yr

Then rate will be =10/2 =5%

N=1

P=21780

A=21780 (1+5/100)¹

A=21780 x 105/100

A=₹22869

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