Question

find compound intrest when the principal is 24000 rate is 5% and time is 2 years​

Answer 1

Answer:

Principal=P=24,000

Rate of interest=r=15%

Time=n=2

3

1

years

Here first we take n=2years

A=P(1+

100

r

)

n

where A=Amount and n=number of years

A=24000(1+

100

15

)

2

=24000×

100

115

×

100

115

=Rs.31,740‬

The amount after 2 years is Rs31,740‬

Now principal=Rs.31,740‬

Simple interest for last

3

1

year is

100

PRT

=31,740‬×

100

15

×

3

1

= Rs.1,587‬

∴ Amount after 2

3

1

year= Rs.31740+1587= Rs.33,327

C.I =A−P

∴C.I=33,327−24,000=Rs.9,327‬

∴ the compound interest is Rs.9,327‬