Question

the compound interest on 24000 15% per annum for 2 years 4 month compounded annually​

Answer 1

Answer:

Rs 9327

Explanation:

Principal = Rs 24000

Interest rate = 15%

At the end of 1 year:

Principal + Interest = 24000 + (0.15 x 24000)  = Rs 27600

After 2 year:

Principal + Interest = 27600 + (0.15 x 27600)  = Rs 31740

At the end of 2 1/3 year:

Principal + Interest = 31740 + 1/3 (0.15 x 31740)  = Rs 33327

Compound Interest = 33327 - 24000 = Rs 9327