Question

Find the compound interest on ₹ 2000 at 15% per annum for 2 year 4 months, compounded annually. ​

Answer 1

Answer:

Step-by-step explanation:

The compound interest on Rs. 8,000 at 15% per annum for 2 years 4 months, compounded annually is :

[A]Rs. 3109

[B]Rs. 3091

[C]Rs. 2980

[D]Rs. 3100

3109 Rs.

Amount = p\left ( 1+\frac{R}{100} \right )^{t}

= 8000\left ( 1+\frac{15}{100} \right )^{2\frac{1}{3}}

= 8000\left ( 1+\frac{3}{20} \right )^{2}\left ( 1+\frac{3}{20\times 3} \right )

= 8000\times \frac{23}{20}\times\frac{23}{20}\times\frac{21}{20}

= Rs. 11109  

∴ Compound Interest = Rs. (11109 – 8000) = Rs. 3109

Hence option [A] is the right ansewr.

Answer 2

Time = 2 years 4 months = 2(4/12) years = 2(1/3) years.

Amount = Rs'. [8000 × (1+(15/100))2 X (1+((1/3) × 15)/100)]  =Rs. [8000 × (23/20) × (23/20) × (21/20)]  = Rs. 11109. .  

∴ C.I. = Rs. (11109 - 8000) = Rs. 3109.