Question

Find compound interest on rs.8000 at 15% per annum for 2 years 4 months. Compounded annually.

Answer 1

Answer:

2800 rs

Step-by-step explanation:

formula =

A=p(1+rt/100)

A=P+I

P+I+P(1+rt/100)

8000+I=8000(1+15*7/3/100)             (4months outof 12 months 4/12=1/3

adding 1/3 to2 years 7/3)

solving gives

I=2800rs

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