Find the compound interest on ₹24000 at 15% annum for 2 1/3 years using formula
Answers
Answer:
Principal=P=24,000
Rate of interest=r=15%
Time=n=2
3
1
years
Here first we take n=2years
A=P(1+
100
r
)
n
where A=Amount and n=number of years
A=24000(1+
100
15
)
2
=24000×
100
115
×
100
115
=Rs.31,740
The amount after 2 years is Rs31,740
Now principal=Rs.31,740
Simple interest for last
3
1
year is
100
PRT
=31,740×
100
15
×
3
1
= Rs.1,587
∴ Amount after 2
3
1
year= Rs.31740+1587= Rs.33,327
C.I =A−P
∴C.I=33,327−24,000=Rs.9,327
∴ the compound interest is Rs.9,327
thnku
Answer:
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Step-by-step explanation:
Principal=P=24,000
Rate of interest=r=15%
Time=n=2
3
1
years
Here first we take n=2years
A=P(1+
100
r
)
n
where A=Amount and n=number of years
A=24000(1+
100
15
)
2
=24000×
100
115
×
100
115
=Rs.31,740
The amount after 2 years is Rs31,740
Now principal=Rs.31,740
Simple interest for last
3
1
year is
100
PRT
=31,740×
100
15
×
3
1
= Rs.1,587
∴ Amount after 2
3
1
year= Rs.31740+1587= Rs.33,327
C.I =A−P
∴C.I=33,327−24,000=Rs.9,327
∴ the compound interest is Rs.9,327