Find the compound interest, correct to the nearest rupee , on Rs. 2400 for 2 1/2 years at 5% per annum.
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Formula to calculate the compound interest is P[ (1 + R/100)^T - 1]
As per the information given in the question, P = 2400, T = 2 1/2, R = 5%
(2400( 1 + 5/100)^5/2 ) - 1
= 2400[(1.129732) - 1]
= 311.352
As per the information given in the question, P = 2400, T = 2 1/2, R = 5%
(2400( 1 + 5/100)^5/2 ) - 1
= 2400[(1.129732) - 1]
= 311.352
debsayan:
wrong
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