Question

calulate the amount and compound interest on ₹20,000 for 2 years and 6 nmonths at 10% per annum compounded annually .​

Answer 1

Answer:

Principal (P) = ₹ 20,000.

Time (t) = 1. ½ Years = 3/2 years.

Rate (r) = 10%

Amount = P × (1 + (r/2 × 100)) n × 2

= ₹ 20,000 × (1 + (10/200) 3/2 × 2

= ₹ 20,000 × (210/200)3

= ₹ 20,000 × 21/20 × 21/20 × 21/20.

= ₹ 23,152.50.

Hope it helps.