Question

Find the compound interest on 4000 for 2 1/2 years at 10% per annum​

Answer 1

Answer:

Since we have given that

Principal = Rs. 4000

Rate of interest = 10% p.a.

Time = 2.5 years

First we calculate the amount for 2 years using the Compound interest formula:

Now, Rs. 4840 becomes the principal at the end of 2nd year.

So, we will calculate the interest on Rs. 4840 for 0.5 year @ 10%.

So, it becomes,

So, interest on RS. 4000 @10% for the first year = Rs. 400

Interest on Rs. 4000+400=Rs. 4400 for the second year = Rs. 440

Interest on Rs. 4840 for the 0.5 more year = Rs. 242

So,Total compound interest = 400+440+242 = Rs. 1082

Hence, compound interest for 2.5 years is Rs. 1082.

Step-by-step explanation:

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