Question

Find the compound interest, correct to the
nearest rupee, on 2,400 for 2 and half years at
5 percent per annum.​

Answer 1

Answer:

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Answer 2

Answer:

amount= principal amount ×[1+ rate of interest/100]^time

let's do it in two parts

1. compound interest for two years

2400×[1+ 5/100]^2

2400×[1+ 1/20]²

2400×[21/20]²

24×21×21/4

6×21×21

2646

2. for half year

2400×[21/20]^1/2

2400×1.024

2457.6

hence total amount is

2646+2457.6

5103.6

5104 (nearest)