Question

find compound interest paid when a sum of Rs. 10000 is invested for 1Year and 3 months at 17/2% per annum compounded annually. ​

Answer 1

p=10000

r=17/2 = 8.5

t =1 year

I=PRT/100

i=10000×8.5×1÷100

i=850

ci=10000+850

=10850

10850 × 8.5×1÷100×4

=230.56

CI=10850 + 230.56

=11080.56