Compound interest on rs 16000 at 15% pa for 2 1/3 years is
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let 2 1 /3 years b 2 + 1 by 3
2 years to be calculated using CI formula and 1/3 to becalculated by Si formula
A=P{1+r/100}
A=16000{1+15/100}^2
A=16000×{1+3/20}^2
A=16000×23/20×23/20
A=40×529
A=21160
CI=A-P
=21160-16000
=5160
____________________________________
SI=PRT/100
=21160×15×1/3÷100
=1058
Total Interest=5160+1058
=6218Rs
2 years to be calculated using CI formula and 1/3 to becalculated by Si formula
A=P{1+r/100}
A=16000{1+15/100}^2
A=16000×{1+3/20}^2
A=16000×23/20×23/20
A=40×529
A=21160
CI=A-P
=21160-16000
=5160
____________________________________
SI=PRT/100
=21160×15×1/3÷100
=1058
Total Interest=5160+1058
=6218Rs
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