Question

Q.3 Find compound interest paid when a sum of rupees 10000 is invested for 1 year and 3 months at 17/2% per annum compounded
annually​

Answer 1

Answer:

Answer:For first year

Answer:For first yearP=10000,R=8.5%, T=1

$interest = \frac{prt}{100}$

$= \frac{(1000 \times 8.5 \times 1)}{100}$

$= 850$

Amount = Interest + Principle =10000+850=Rs.10850

Amount = Interest + Principle =10000+850=Rs.10850For second year principle will be amount of previous year (since interest is compounded)

Amount = Interest + Principle =10000+850=Rs.10850For second year principle will be amount of previous year (since interest is compounded)P=10850,R=8.5%

$t = 3months = \frac{3}{12} years = 0.25years$

$interest = \frac{prt}{100}$

$= \frac{(10850 \times 8.5 \times 0.25)}{100}$

$= rs230.5625$

Total interest =850+230.5625=Rs.1080.5625

Total interest =850+230.5625=Rs.1080.5625∴ Compound interest paid after 1 year and 3months is Rs.1080.5625

Answer 2

Step-by-step explanation:

Compound interest paid after 1 year and 3 months is RS 10850.5625