Question

P= 10000 , R= 14% , T= 19/7 find compound interest ​

Answer 1

Answer:

4295.6

Step-by-step explanation:

P= 10000 , R= 14% , T= 19/7 find compound interest ​

Compounded annually

T = 19/7 = 2 Years  + 5/7  Years

Compound interest = P ( 1 + R/100)ⁿ - P

Compounded interest for 2 years = 10000 ( 1 + 14/100)²   - 10000

= 10000 ( 1.14² - 1)

= 10000( 2.14 * 0.14)

= 2996

Amount after 2 years = 10000 + 2996 = 12996

Interest for 5/7 Years

=  12996 * 14 * (5/7) /100

= 1299.6

Total interest = 2996 + 1299.6 = 4295.6