Question

R=50000 , n=2 2/3 , R=6%
Find the compound intrest using formula

Answer 1

P = 50000
t =$2\frac{2}{3} = \frac{8}{3}$ years
R = 6%

$A = P[1+ \frac{r}{100} ]^{t}\\ \\ \Rightarrow A= 50000[1+ \frac{6}{100} ]^{8/3}\\ \\ \Rightarrow A= 50000[1+ 0.06 ]^{8/3}\\ \\ \Rightarrow A= 50000[1.06 ]^{8/3}\\ \\ \Rightarrow A=Rs.\ 58405.3$

So compound Interest, CI = A - P = 58405.3 - 50000 = Rs. 8405.3