Question

Principal = 50,000, rate of interest = 5% p.a., time = 2 1/2 year​ . Find compound interest
​

Answer 1

Answer:

Step-by-step explanation:

Compound intrest = CI = P( 1 + i )ⁿ

P = 50,000

I = 5/100 = .05

T = 2¹/₂ yrs

CI = 50,000 ( 1 + 0.05 )⁵/₂

CI = 50,000 × (1.05)⁵/₂

CI = 56,486.31 (p+I)

I = 6,486

Answer 2

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