Question

Find the compound interest of 2 years and 2 month
on a sum of Rs. 12960. If the rate of interest is
16
%
(A) Rs. 5170
(C) Rs. 5095
(B) Rs. 4875
(D) Rs. 5315​

Answer 1

Answer:

4875 because

16% int for first yr amounts to

2073.60

second yr int is

2405.376

add 2 months int

we get

4875 ANSWER

Answer 2

Answer:

 B) Rs. 4875

Step-by-step explanation:

In this question

We have been given that,

Rs.12960 is invested at 16% rate of intrest.

We need to find the compound intrest of 2 years and 2 months.

According to the question,

Principle = Rs.12960

Time = $\frac{13}{6}$ years

Rate of Intrest = 16%

Amount is given by-:

Amount = $P(1\ +\ \frac{r}{100})^{t}$

Amount = $P(1\ +\ \frac{16}{100})^{(\frac{13}{6})}$

Amount = $12960(1\ +\ \frac{4}{25})^{2.17}$

Amount = $12960(\frac{29}{25})^{2.17}$

Amount = $12960(1.16)^{2.17}$

Amount = $12960\times 1.37$

Amount = Rs.17775.2

Compound Intrest = 17775-12960

Compound Intrest = 4815Rs.(approx)

So, correct answer will be RS.4875

Note- 2.17 and 1.37 have been taken as aprroximate value.