Find the compound interest for 2 1/2 years on ₹ 4000 at 10% p.a, if the interest is compounded yearly.
the answer must be ₹936.80
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Answer:
Answer
P=4000
R=10%
Times =2.5 years
First take n=2 years
A=P(1+
100
r
)
n
=4000(
10
11
)
2
4000(
100
121
)
A=4840
Simple interest for last
2
1
years is
100
PRT
=
100
4840×10
×
2
1
=242
Amount after 2
2
1
year =4840+242
=5082
Compound interest =5082−4000
CI=1082
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Answer:
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