Question

Ram deposit to 20000 in bank rate of 8% for 2•5 years .How much he gets compound interest?​

Answer 1

Answer:

He gets ₹ 4,261.12 compound interest.

Step-by-step explanation:

Solution. First, we find the amount after 2 years.

A = P(1+R/100)^n = ₹ 20,000(1+8/100)²

= ₹ 20,000 × (27/25)²

= ₹ 20,000×27/25×27/25 = ₹ 23,328

Principal for the third year = ₹ 23,328

Interest for the next 1/2 year = P×R×T/100

= ₹23,328×8×1/2 / 100

= ₹ 933.12

Amount for 2.5 years = ₹23,328 + ₹933.12

= ₹ 24,261.12

C.I. for 2.5 years = Amount - Principal

= ₹ 24,261.12 - ₹ 20,000

= ₹ 4,261.12 (ans).

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