Question

Find the compound interest on rs 20000 at 15% per annum for 2yrs 4months

Answer 1

Answer:

840

Explanation:

Formula:(P×R×T)÷100

Let compound interest be x.

P=20000

R=15%=(15÷100)=3/20

T=2yrs 4months=28months

= (20000×3/20×28)÷100

= (84000)÷100

= 840

Therefore, x=840 (compound interest)