Question

find compound interest on rupees 60000 for two and a half years at 8% per annum compounded yearly

Answer 1

Hey here is your Answer

GIVEN ;-

principle = 60,000 rs.
Time = two and a half year or 5/2 years
rate = 8% per annum

To find ;- compound interest

So, lets come to answer

First we have to find the amount .

So, as we all know the formulae :-

$a \: = p(1 + \frac{r}{100} {)}^{t}$

so, put all the values of principle, rate , year in this equation :-

$a \: = p(1 + \frac{r}{100} {)}^{t} \\ \\ a \: = 60000(1 + \frac{8}{100} {)}^{2 \frac{1}{2} } \\ \\ a \: = 60000 \times (1 + \frac{8}{100} {)}^{2} \times (1 + \frac{8}{100} {)}^{ \frac{1}{2} } \\ \\ a \: = 60000 \times ( \frac{108}{100} {)}^{2} \times ( \frac{108}{100} {)}^{ \frac{1}{2} } \\ \\ a \: = 60000 \times \frac{108}{100} \times \frac{108}{100} \times \sqrt{ \frac{108}{100} } \\ \\ a \: = 60000 \times \frac{108}{100} \times \frac{108}{100} \times \frac{2 \times 3}{10} \times \sqrt{3} \\ \\ a \: = 6 \times 108 \times 108 \times \frac{6}{10} \times \sqrt{3} \\ \\ a \: = \frac{419904 \sqrt{3} }{10} \\ \\ \bf \: a \: = 41990.4 \times \sqrt{3} \: \: \: answer \: \\ \\ or \\ \\ a \: = 41990.4 \times 1.732 \\ \\ \bf \: a \: = 72727.3728 \: \: \: answer$

Now as we all know that :-

compound interest = amount - principle
compound interest = 72727.3728 - 60000 rs

$\bf \: compound \: interest \: = \\ \bf \: 12727.3728 \: rs \: answer$

hope this helps you

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