Question

Find the compound intrest on ₹8000 for 2years 3months at 10% P.A

Answer 1

Step-by-step explanation:

P=₹8000

T=1/4year =1 for quarterly

R=10/4=25/10%

Amount=₹8000(41/40)

=₹8400

CI=₹8400-₹8000

=₹400

Answer 2

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Find the Compound interest ( C. I.) on ₹ 8000 for 2 years 3 months at 10% per annum.

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● Interest is compounded annually

● principal, P = ₹ 8000

● time, t = 2 years 3 months

$\bf{time, \: t = 2 \frac{3}{12} } \: yrs = 2 \frac{1}{4} \: years$

● rate per annum, R = 10 %

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●When interest is compounded annually but time is in fraction, say here

$\tt \: 2 \frac{1}{4} \: years \:$

then,

$\tt \: A =P {(1 + \frac{R}{100}) }^{2} \times (1 + \frac{ \frac{1}{4} \times R}{100} )$

( A is representing amount )

ALSO,

●Amount ( A) = Principal (P) + C. I.

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Putting values in the formula

$\tt A = 8000 {(1 + \frac{10}{100} )}^{2} \times (1 + \frac{ \frac{1}{4} \times 10 }{100} ) \\ \\ \tt A = 8000 ({1 + \frac{1}{10} })^{2} \times (1 + \frac{10}{4} \times \frac{1}{100} ) \\ \\ \tt A = 8000 {( \frac{10 + 1}{10} )}^{2} \times (1 + \frac{1}{40}) \\ \\ \tt A = 8000 \times \frac{121}{100} \times ( \frac{40 + 1}{40} ) \\ \\ \tt A = 80 \times 121 \times \frac{41}{40} \\ \\ \tt A = 2 \times 121 \times 41 \\ \\ \tt \: A = 9922$

Hence, the amount will be ₹ 9922

NOW,

A = P + C. I.

C. I. = A - P

C. I. = 9922 - 8000

$\boxed{ \tt \: C. I. = Rs 1922}$

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The compound interest will be ₹ 1922.

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