Question

Find the compound interest on rs 11200 at 17 1/2% per annum for two years.

Answer 1

Hello friend

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We have given:

Principal (P) = 11200 Rs.

Rate(R) = 17 1/2 ℅

= 35/2

= 17.5

R, = 17.5 ℅

Number of years (N) = 2 years.

We know that,

Compound Interest= P(1+ R/100)^N - P

So,by putting the values we get,

Compound Interest = 11200(1+17.5/100)^2 - 11200

Compound Interest = 11200(1+0.175)^2 - 11200

Compound Interest = 11200(1.175)^2 - 11200

Compound Interest = 11200*1.38 - 11200

Compound Interest = 15456 - 11200

Compound Interest = 4256Rs.

Thanks _____________ :)

Answer 2

Answer:

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