Question

Find CI paid when a sum of money rs10,000 is invested for 1 year and 3 months at 8 and 1/2 percent per annum compounded annually

Answer 1

ci= 10000(1+17÷200)^3 -10000 Or 10000(217×217×217/1000000)-10000 Or (217×217×217/100)-10000 Or (217×217×2.17)-10000 Or calculate onwards For next 3 months calculate interest by 10000×17/200×3/12 then add both interests the sum.of these interests vl be the answer