Question

liv
7000 in 3 years and 4 months at 5%
per annum reckoned annually.
Find the compound interest
​

Answer 1

Answer:

Time = 2 years 4 months = 2(4/12) years = 2(1/3) years.

Amount = Rs'. [8000 X (1+(15/100))^2 X (1+((1/3)*15)/100)]

=Rs. [8000 * (23/20) * (23/20) * (21/20)]

= Rs. 11109. .

:. C.I. = Rs. (11109 - 8000) = Rs. 3109.

Answer 2

Answer:

1238.43

Step-by-step explanation:

This is a Fractional Year.

P = 7000

r = 5%

t = 3 + (4/12)

 = $3\frac{1}{3}$  

Now,

Amount = P *{(1 + 5/100)^3} * {(1 + (5*1/3)/100)}

   = 7000 * 21/20 * 21/20 * 21/20 * 61/60

   = 8238.43

CI = 8238.43 - 7000

   = 1238.43

...................Thanks...................