Question

What is compound interest principal is 26400 time 2year 4 months and R 15%

Answer 1

Step-by-step explanation:

Solution:

Amount (A) = P[1 + (r/100)]n

Principal (P) = ₹ 26400

Time period (n) = 2 years 4 months

Rate % (R) = 15% compounded annually

Steps:

Firstt, we will calculate Compound Interest (C.I) for the period of 2 years

A = P[1 + (r/100)]n

= 26400[1 + (15/100)]2

= 26400[(100/100) + (15/100)]2

= 26400 × 115/100 × 115/100

= 26400 × 23/20 × 23/20

= 26400 × 1.3225

= 34914

C.I. = A - P

= 34914 - 26400

= 8514

Now, we will find Simple Interest (S.I) for the period of 4 months

Principal for 4 months after C.I. for 2 years = ₹ 34,914

We know that,

S.I = PRT/100

Here T = 4 months = 4/12 years = 1/3 years

S.I. for 4 months = (1/3) × 34914 × (15/100)

= (1/3) × 34914 × (3/20)

= 34914/20

= 1745.70

Total interest for 2 years 4 months = 8514 + 1745.70

= 10259.70

Total amount for 2 years 4 months = 26400 + 10259.70

= ₹ 36659.70

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