Question

find the compound interest if 2.5 years at 13%per annum is ₹8400​

Answer 1

➪ Annual Factor,

➪ ( 1+ (0.10)) = 1.10

➪ Monthly factor,

➪ 1.10^(1/12) = 1.0079741404

➪ No of months is, 30.

➪ Maturity Factor,.

➪ 1.0079741404^ 30 = 1.2690587063

➪ Compound interest per ₹1,

➪ 0.2690587063

➪ Compound interest for 8400,

➪ 8400 x 0.2690587063 = 2,260.09313292

➪ Compound interest is, ₹2,260.09

hope its help u

Answer 2

Answer:

Step-by-step explanation:

Principle = p = ₹ 8,400

Rate of interest = 13% i.e. 0.13

Time = 2.5 yrs

$CI = P[(1+i)^n-1]$

$CI = 8,400[(1+0.13)^{\frac{5}{2}} -1]$

$[(1+0.13)^{\frac{5}{2}} -1] = 0.3573633$

$CI = 8,400 * 0.3573633$

$CI = 3,000.85$

$Amt = P + CI$

$Amt = 11,401.85$

Hence , the compound interest if 2.5 years at 13%per annum is ₹ 8400​

₹ 3,000.85