Question

find compound interest paid when a sum of Rs.10000 is invested for 1year 3 months at 8.5% per annum compounded annually​

Answer 1

Step-by-step explanation:

total money=10000

interest rate 1 year = 8.5

we know that 100%= 10000

1%= 100

8.5%= 850

for three months interest rate =212.5

850+212.5= 862.5

the annum compound=10000 + 862.5 =10862.5