Question

Principal = 10000, r = 8% p.a, n = 2 3/4 years, interest
compounded yearly.​

Answer 1

Answer:

so here,

c.i= p[ (1+r)^n-1]

c.i=10000 (.46932)

c.i=4693.28 for 5 year

here n=23/4

I. e. n=5.75

I=PTR

I=10000×.75×.08

I=600

Total interest for 5.75 or 23/4 year is 4693.28+600=5293.28

total interest =5293.28

Answer 2

Given in the question :

Principal, P = 10000

rate, r = 8% p.a

time period, n = 2 (3/4) or 11/4 years

The interest is being compounded yearly

To find out :

Interest = ?

Final amount = ?

Solution :

As we know that,

Final amount having compound interest is calculated as :

$FA = P (1 + r)^{t}$

where,

FA = Final amount

P = Principal

r = Interest rate

t = time period ( no. of years)

So now,

$FA = 10000 * (1 + 0.08)^{11/4}$

FA = 10000 * 1.2357

FA = 12357.0648

Therefore,

the final amount = 12357.0648

and interest earned = ( 12357.0648 - 10000) = 2357.0648

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