P=? R=टू वन अपॉन टू T =5 I=2400A=?
Answers
Answer:
556=7
Explanation:
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Answer:
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Class 11
>>Applied Mathematics
>>Basics of financial mathematics
>>Accumulation with simple and compound interest
>>Find the compound interest, correct to t
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Find the compound interest, correct to the nearest rupee, on Rs. 2,400 for 2
2
1
years at 5 per cent per annum.
Hard
Solution
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Correct option is A)
We first calculate the C.I. for first 2 years and then the S.I. next
2
1
year.
For ,
N=2years
R=5 %
=>P=Rs2,400
And on interest being compounded we have,
Amount=P(1+
100
R
)
N
=2,400×(1+
100
5
)
2
=2,400×1.05
2
=Rs2,646
So, C.I for first 2 years =.=A−P=Rs2,646=Rs2,400=Rs246
This, Rs2,646 is the principal for the next
2
1
year.
So, S.I.=
100
PNR
=
100
2,646×
2
1
×5
=Rs66.15
Thus, total interest =Rs246+Rs66.15=Rs312.15
To the nearest rupee , it is Rs312