Find the amount and the compound interest on
Rs. 2000 at 10% p.a. for 2½ years, compounded annually
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Answered by
13
Answer:
Principal (P) = Rs.2000
Rate (R) = 10% p.a.
Time (T) = 2½ years = 5/2 years
Amount = P × (1 + R/100)^T
= 2000 × (1 + 10/100)^5/2
= 2000 × (11/10)^5/2
= Rs.2538.63
Hence, compound interest = Rs.(2538.63 - 2000) = Rs.538.63
Answered by
7
since given 2 1/2 years take as 3 years and later half the 3rd years interest
200 will be the Si for 3 years and rest of the values will be interest on interest(200) i.e., CI
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