Question

what is compound interst on rs 68200 for 4 year 2 months if the rate percent 2% per months?​

Answer 1

Answer:

To find : The compound interest on the nearest rupee on 7500 for 2 years 4 months at 12% per annum reckoned annually ?

Solution :

Applying compound interest formula,

Where, P is the principal P=Rs.7500

r is the interest rate r=12%=0.12

t is the time t=2 years 4 months

Converting into whole year,

2 years + year = year

Substitute the values,

Compound interest = Amount - Principal

Compound interest = Rs.9770.19- Rs.7500

Compound interest = Rs.2270.19

Therefore, the compound interest is Rs.2270.19.

#Learn more

Find the compund interest on rs. 7500 at 4% P.A for 2 years, compounded annually