Question

Find the amount and C.I when interest is compounded annually
P=₹18000 , T=2 years

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Answer 1

Given :

• P = ₹18000, T = 2 years, R = 15.5% p.a.

To Find :

• The amount & C.I when Interest is compounded annually ?

Solution :

• Formula, In Compund Interest.

➣ A = P(1 + R/100)^T

➣ C.I. = A - P

Where,

• A = Amount
• P = Principal = ₹ 18000
• R = Rate = 15.5% p.a.
• T = Time = 2 years
• C = Compund Interest

Finding the amount :

➣ A = 18000(1 + 15.5/100)²

➣ A = 18000(1 + 0.155)²

➣ A = 18000(0.155)²

➣ A = 18000(1.334025)

➣ A = 24012.45

Therefore,

• Amount is ₹ 24012.45.

Hence,

• Compund Interest is ₹ 6012.45.

Answer 2

A N S W E R :

• Compund Interest is ₹ 6012.45.