Question

Find compound interest on 15625 at 8℅ per annum for 2 years 9 months, if interest compounded yearly.

Answer 1

Time = 2  years  9  months = 2 (9/12) years = 2(3/4) years.

Time [ n1 ]= 2  years   Time [ n2 ]= (3/4) years.

Rate =8%

Principal   =     Rs  15625            

Amount =[P×( 1 +(rate / 100 ) )^n1 × (1 + (n2  ×  rate/100)]

Amount = Rs  [15625× ( 1 +  ( 8 / 100 )  )^2 × ( 1+ (3/4×8/100) ]

=Rs. [15625×(27/25)×(27/25)×(53/50)]

= Rs. 19318.5                            .

C.I. = Amount - Principal

C.I. = Rs. (19318.5 - 15625) = Rs. 3693.5      Ans

Answer 2

Answer:

correct answer 3690.5 ok