Question

P=10,000 T=1 1/2 Years and R = 10% PA compounded annually . Find CI and SI
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Answer 1

Answer:

The simple interest is 5,500. The compound interest is 6,891.17

Step-by-step explanation:

Principal, P = 10 000

Time, T = 11/2 = 5.5 years

Rate, R = 10% = 0.1

$Amount (CI) = P ( 1 + R)^T\\\\ = 10 000 (1 + 0.1) ^ {5.5}\\\\ = 10 000 ( 1.1) ^{5.5} \\\\ = 10 000 (1.689117138)\\\\ = 16891. 17138\\\\CI = 16891. 17138 - 10 000 = 6 891.17 \\\\\\SI = P \times R \times T\\\\ = 10 000 \times 0.1 \times 5.5\\\\ = 5 500$

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