Compound interest of rs.20480 at 6 1⁄4% per annum for 2 years 73 days is
Answers
Answered by
32
We take a year to have 365 days
73 days = 73/365 = 0.2 years
No. of years = 2.2 years
Using the compound interest formula
Amount = P(1 + R/100)^n
Amount = 20480(1 + 6.25/100)^2.2
= 23402
Compound interest = 23402 - 20480
= Rs. 2922
73 days = 73/365 = 0.2 years
No. of years = 2.2 years
Using the compound interest formula
Amount = P(1 + R/100)^n
Amount = 20480(1 + 6.25/100)^2.2
= 23402
Compound interest = 23402 - 20480
= Rs. 2922
Answered by
6
Answer:
Rs .2929
Explanation:
C.I. = Rs[20480 x(1 +25/4 x 100)2 (1 + 1/5 x 25/4 x 100) - 20480 ]
= Rs.[(20480 x 17/16 x 17/16 x 81/80) - 20480]
= 20480[23409 - 20480/20480]
= Rs .2929
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