Question

find the compound interest on a sum of rs. 20480 at 25/4% per annum for 2 yrs 73 days compounded anually.
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Answer 1

Answer:

Rs. 2929

Step-by-step explanation:

Principal=20480Rs.

Time =2 years 73 days=2 1/5 years

interest rate 25/4 %

Amount after 2 years 73 days=20480(1 + 25/4×100)square(1+1/5×25/4)/ 100

⇒20480(1+25/4×100)square(1+5/4×100)

⇒20480(1+1/16)square(1+1/80)

⇒20480(17/16)square(80/81)

⇒20480 × 17 × 17 × 81 / 16 × 16 × 80

⇒ 256 × 17 × 17 × 81 /16 × 16

=> 17 × 17 × 81 = Rs 23409

=> CI = 23409 −20480=Rs 2929

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