find the compound interest on Rs. 31250, 2 years 9 month at the rate of 4% per annum
Answers
Answered by
2
31250*4%=1250 (1st year)
(31250+1250)*4%=1300(2nd year)
(31250+1250+1300)*4%*9/12=1014
Total compound interest =1250+1300+1014=3564
(31250+1250)*4%=1300(2nd year)
(31250+1250+1300)*4%*9/12=1014
Total compound interest =1250+1300+1014=3564
kishan5522:
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I have check .. the formula should be :
Amount = P × (1 + R/100)² × [1 + (9/12 × R)/100]
So my method was wrong .. my apology. And yes, this answer is right.
Amount = P × (1 + R/100)² × [1 + (9/12 × R)/100]
So my method was wrong .. my apology. And yes, this answer is right.
thankx ☺
Answered by
3
given , sum ( P ) = Rs 31250
Rate = 4 % per annum ,
Time ( T ) = 2 yr 9 months
let T1 = 2 yr, T2 = 9 months = 9/12 yr
= 3 /4 yr
A=P ( 1 + R / 100 )^T1 × ( 1 +T2R / 100 )
=31250 (1 + 4 /100 )^2×( 1 + 3/4×4/100 )
=31250 (104/100)^2 × (103 /100)
=31250 × 1.04 × 1.04 + 1.03
=Rs 34814
compound interest=Amount(A) - sum(P)
=34814 - 31250 = Rs 3564
therefore,
compound interest = Rs 3564
_______________________________
Your Answer : Rs 3564
_______________________________
Rate = 4 % per annum ,
Time ( T ) = 2 yr 9 months
let T1 = 2 yr, T2 = 9 months = 9/12 yr
= 3 /4 yr
A=P ( 1 + R / 100 )^T1 × ( 1 +T2R / 100 )
=31250 (1 + 4 /100 )^2×( 1 + 3/4×4/100 )
=31250 (104/100)^2 × (103 /100)
=31250 × 1.04 × 1.04 + 1.03
=Rs 34814
compound interest=Amount(A) - sum(P)
=34814 - 31250 = Rs 3564
therefore,
compound interest = Rs 3564
_______________________________
Your Answer : Rs 3564
_______________________________
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