Question

Find the compound interest of 2 years and 2 month
on a sum of Rs. 12960. If the rate of interest is
16 2/3 %
​

Answer 1

Answer:

so simple

Step-by-step explanation:

please to

Answer 2

Answer:

   Compound Intrest of 2years 2 months will be 5313Rs.(Approx)

Step-by-step explanation:

In this question,

We have been given that,

A sum of Rs.12960 is invested for 2 years 2 months at the rate of $16\frac{2}{3}\%$

We need to find the Compound Intrest.

Here, P = Rs.12960

         T = 2years and 2 month = $2\frac{2}{12}$ = $2\frac{1}{6}$ = $\frac{13}{6}$

         Rate of  intrest = $16\frac{2}{3}\%$

Amount is given by

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

Putting the values We get,

Amount = $12960(1\ +\ (\frac{\frac{50}{3}}{100}))^{(\frac{13}{6}})$

Amount = $12960(1\ +(\frac{1}{6}))^{2.17}$

Amount = $12960(\frac{7}{6})^{2.17}$

Amount = $12960(1.17)^{2.17}$

Amount = $12960\times 1.41$

Amount = 18273.6Rs.

Compound Intrest = Amount - Principle

Compound Intrest = 18273 - 12960

Compound Intrest = 5313Rs.

Note - 1.17 , 2.17 and 1.41 are taken as approximate value.