Question

Find the COMPOUND INTEREST,
Principal = $ 15000, rate = 10% p.a. and time = 2¹/₅ years. 
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Answer 1

Answer:

you havent mentioned if the interest is to be compounded annually or half yearly or whatever.

I'm solving it assuming its compounded annually.

2 1/2 years is 2.5years. (same value, different expression).

Amount at the end of 1st year:

15,000 + 10% of 15,000

= 15000 + 1500

= 15,500

Amount at the end of 2nd year:

15,500 + 10% of 15,500

= 15,500 + 1550

= 17,050

Amount at the end of 2.5years:

17,050 + 5% of 17050

= 17050 + 852.50

= 17,902.50