Question

p=2800,r=10,t=3/2 find compound interest​

Answer 1

Given:

(i) Principal value = Rs 2800

(ii) Rate = 10% p.a.

(iii) Time = 3/2 years

To find:

(i) Compound interest amount

Solution:

Assuming interest is compounded yearly, we know that

Amount (A) = P(1 + R/100)ⁿ

where n is the time period, here n = 3/2

So,

A = 2800[(1 + 0.1)^(3/2)]

= 2800[1.3566]

= 3798.48

So, Interest (CI) = A - P

= Rs (3798.48 - 2800)

= Rs 998.48

So, the compound interest is Rs 998.48