find compound interest on sum of rs 8600 for 2 year at 12% being compounded 8 monthly ?
Answers
Answered by
4
Answer:
ᴘʀɪɴᴄɪᴘᴀʟ = 8600
ʀᴀᴛᴇ = 12%
ᴛɪᴍᴇ = 2 years (2 terms)
ᴀᴍᴏᴜɴᴛ = P(1+ R/100)^n
= 8600(1+12/100)^2
= 8600x(1+3/25) ^2
= 8600x( 4/25)^2
= 8600 x 16/625
= 8600x4/25
=344x4
=1376
:. ᴄɪ = ᴀᴍᴏᴜɴᴛ - ᴘʀɪɴᴄɪᴘᴀʟ
= 1376 - 8600
= 9976
Similar questions