Question

find the compound interest for 2 1/2 years on 4000 at 10% p.a if the interest is compounded yearly​

Answer 1

Answer:

Compound interest = Rs.1076.234

Step-by-step explanation:

Given : 2 1/2 years on 4000 at 10% p.a if the interest is compounded yearly​.

To find : The compound interest ?

Solution :

The compound interest formula is

$A=P(1+r)^t$

Where, P is the principal P=Rs.4000

r is the rate r=10%=0.1

t is the time $t=2\frac{1}{2}=2.5$ years

Substitute the values,

$A=4000(1+0.1)^{2.5}$

$A=4000(1.1)^{2.5}$

$A=4000(1.26905870629)$

$A=5076.234$

Compound interest = Amount - Principal

Compound interest = 5076.234-4000

Compound interest = Rs.1076.234