Principal:Rs.30000 Rate:10%pa Time:2yrs 4months. Find the amount
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Principal(P) = Rs 30000
Rate of Interest(r ) = 10%
Time = 2.1/3 years
Here first we take n = 2 years.
A = P( 1 + r /100)n Where A = Amount and n = number of years
A =30000 (11/10)2
A = 30000 ( 121 / 100 )
A = Rs 36300
The Amount after two years = Rs 36300
Now Principal = Rs 36300
Simple interest for last 1/3 year is = PRT/100 = (36300× 10 × 1 / 3) / 100 = Rs.1210
Amount after 2 1/3 year = Rs 36300 + Rs 1210 = Rs 37510 ANS.
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