Question

Find the amount and compound interest on Rs 3000 at 10% per annum for 2 (1/3) years
compounded annually.
plz solve it plz plz ​

Answer 1

Answer:

Amount = Rs. 3474.18

CI = Rs. 474.18

Step-by-step explanation:

P = initial amount in Rupees = 3000

R = rate of interest per cent per year = 10

T = time period in years = 2.33

A = final amount at the end of period T

A = P(1 + R/100)^T

   = 3000*(1 + 1/10)^2.33

    = 3000*(1.1)^2.33

     = 3000*(1.249059)

     = 3474.18

Amount = Rs.3474.18

CI = A - P

    = 3474.18 - 3000

     = 474.18

Compound Interest = Rs.474.18