Question

Find the compound interest on Rs 16000 at 6 percent per annum for 2 years 6
months interest compounded yearly

Answer 1

Answer:

Step-by-step explanation:

P=RS 16000

R=6 % p. a

N=2 years 6 months

A=p(1+r/100)n

A=16000(1+6/100)2

A=16000(106/100)2

A=16000(53/50)2

A=16000x53/50x53/50

A=19663

6MONTHS = 6/2

=3

SI=pxrxt/100

SI=19663x6x3/100

SI=3,539.34

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Answer 2

Step-by-step explanation:

$compound \: interest \: = \\ = p{(1 + \frac{r}{100} )}^{t} - p$

$= 16000 {(1 + \frac{6}{100}) }^{2.5} - 16000$

$= 16000 {(1.06)}^{2.5} - 16000$

$= 18509.07 - 16000$

$= 2509.07$

compound interest=₹2509.07

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