The compound interest on ₹540 at 16⅔ per annum for two years is?
Answers
Step-by-step explanation:
P = rs. 540
R = 16 ⅔
= 50/3
T = 2 yrs
A = P( 1+r/100)^n
= 540(1+50/3×100)²
=540×( 1+ 1/6)²
=540×7/6 ×7/6
=735
CI = A-P
=735 - 540
= 195 rs.
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Compound Interest is 195 rupees.
GIVEN: Principal = 540; Rate = 50/3; Time Period = 2 years
TO FIND: Compound Interest
SOLUTION:
We need to find the compound interest on the principal amount of 540 in two years. Interest that is earned on the principal amount is known as compound interest.
Principal Amount = 540
Rate = 50/3
Time period = 2 year
A = P ( 1 + R/100)ⁿ
= 540 ( 1 + 50/3* 100)²
= 735
Compound Interest = A - P
= 735 - 540
= 195
Compound Interest is 195 rupees.
PROJECT CODE #SPJ2
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