Question

find the CI paid when a sum of 10000 is invested for 1 year and 3 months at 8.5% compounded annually​

Answer 1

Answer:

HI!!!

Step-by-step explanation:

P=10000, T=1 year and 3 months and rate=8.5%

1st year= PRT/100

=10000*8.5*1/100

=850( simple interest)

Amount for 1st year= SI+P

=850+10000=10850 rs

SI FOR THE THREE MONTHS....

3 months=1/4 year

therefore,

si=PRT/100

=10850*8.5*1/100*4

=2305.625 RS

final Amount=2305.625+10850=13155.625

COMPOUND INETEREST= final Amount-original p

=13155.625-10000

=3155.625

Hope it helps you!!!