Question

find the compound interest on rupees 1200 for 2.5 years at 5%per annum . also find the amount​

Answer 1

Answer: 1356.075 rs

Step-by-step explanation:

principal(P) = 1200 rs

rate(R) = 5 %

time(t) = 2.5 years

Amount(A) for 2 years= P(1 + R/100)^t

A= 1200(1 + 5/100)^2

  = 1200(21/20)^2

  =1323 rs

Compound interest (C.I.) for 2 years = A-P = 123 rs

For the remaining 0.5 year we have to find simple interest where 1323 becomes the principal.

P = 1323 rs

R = 5 %

t = 1/2 year

Simple interest (I)= PRt/100

I= (1323*1/2*5)/100

I= 33.075 rs

Therefore the final C.I. = 33.075 + 1323

                                      = 1356.075 rs