Question

Find the compound interest for 2 1/2 years on Rs.4000 at 10%p.a if the interest is compounded yearly .solve this question?

Answer 1

Answer:

The compound interest for 2 $\frac{1}{2}$ years is Rs.3289.

Given:

Find the compound interest for 2$\frac{1}{2}$ years on Rs.4000 at 10%p.a i

To find:

The compound interest

Solution:

Interest in compound interest  = P $(1 + \frac{r}{100})^{2}$

P=4000, r=10, n=2.5

Substituting the values in the formula, we get

Interest = 4000$(1 + \frac{10}{100})^{\frac{3}{2}}$

    = 4000 $(\frac{11}{10} \times \frac{11}{10} \times \frac{11}{10})^{\frac{1}{2}}$

= 4000$\times 2V (\frac{1331}{2000})$

= 4000 $\times (\frac{36.48}{44.72})$

= Rs.3289

Result:

The compound interest for 2 $\frac{1}{2}$ years is Rs.3289.

Learn more about the compound Interest:

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