Question

Rhe compound interest on rs 20480 at 6.5% per annum for 2 years 73 days is

Answer 1

1 year =365 days

73 days = 73/365

=0.2 years.

years=2.2

now using C.I formulae

p=20480,r=6.25 and t=n=2.2

amount =p(1+r/100)^n

A=20480(1+6.25/100)^2.2

=23402

C.I= amount _ principal

C.I=23402_20480=2922