Question

Find the amount and compound interest on 13500 for 2 years 6 months at 10% per
annum compounded annually.
​

Answer 1

Answer :-

Given :-

• Principal = Rs. 13500
• Time = 2 years 6 months = 2.5 years
• Rate of interest = 10% p.a.

To Find :-

• Compound interest
• Amount

Solution :-

We know that,

$\sf A = P \Big( 1 + \frac{R}{100}\Big)^n$

Substituting the value in formula -

$\implies\sf A = 13500 \Big( 1 + \frac{1\cancel0}{10\cancel0}\Big)^{2.5}$

$\implies\sf A = 13500 \Big( 1 + \frac{1}{10}\Big)^{2.5}$

$\implies\sf A = 13500 \Big(\frac{11}{10}\Big)^{2.5}$

$\implies\sf A = 13500 \times \Big(\frac{11}{10}\Big)^2 \times \Big(\frac{11}{10}\Big)^{0.5}$

$\implies\sf A \approx 135\cancel{00} \times \frac{121}{1\cancel{00}} \times 1$

$\implies\sf A = 16335$

Amount = Rs. 16,335

We also know that,

Interest = Amount - Principal

Substituting the value -

Interest = 16335 - 13500

= 2,835

Compound interest = Rs. 2835