Question

the time in which 9000 amounts at 10 % per annum compounded annually​

Answer 1

Answer:

Present value = Rs. 9000 Interest rate =10% per annum Time =2 years 4 month =(2+1/3) years =(7/2) years Amount (A)=P(1+R/100)n×[1+(1/3×R)/100]

Where,\(P=\)Presentvalue\(R=\)Annualinterestrate\(n=\)Timeinyears\(

\) ∴A=9000(1+10/100)2×[1+(1/3×10)/100] ⇒A=9000(1+1/10)2×[1+1/30] ⇒A=9000(11/10)2×[31/30] ⇒A=9000×121/100×31/30 ⇒A=9×121×31/3 ⇒A=3×121×31 ⇒A=11253 ∴ Amount =Rs.11253 ∴ Compound interest = Rs.\(11253−9000\) =Rs⋅2253