Question

Find compound interest on Rs. 8000 at 15% per annum for 2 years 4 months, compounded annually
A) 2109
B) 3109
C) 4109
D) 6109

Answer 1

4 month = 4/12
=1/3
Time = 2/1/3
8000(1+15/100)power2(1+1/3×15/100)
8000×23/20×23/20×21/20
=11109
11109-8000
=3109

Answer 2

4 month = 4/12

=1/3

Time = 2/1/3

8000(1+15/100)power2(1+1/3×15/100)

8000×23/20×23/20×21/20

=11109

11109-8000

=3109