find the compound interest if:- principle=27000 rate=9.5% time=2.5year
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When interest is compounded Annually say 2.5 years.
Amount = P 1 + R 3
x 1 + R
100 100
Amount = P 1 + R 3
x 1 + R
100 100
Answered by
0
P=27000, r = 9.5% for half- year = 9.5/2 = 4.75% T= 2.5 year (for half -year) n =5
formula
C.I =P(1+ r/100)^n - P
= 27000 (1 + 4.75/100)^5 - 27000
= 27000 (1.0475)^5 - 27000
= 27000 * 1.2612 - 27000
= 34052.40 - 27000
C.I =Rs. 7052.40
formula
C.I =P(1+ r/100)^n - P
= 27000 (1 + 4.75/100)^5 - 27000
= 27000 (1.0475)^5 - 27000
= 27000 * 1.2612 - 27000
= 34052.40 - 27000
C.I =Rs. 7052.40
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