Question

what is the compound interest when principal is 15000 and rate is 10 1/2 and time is 3 years

Answer 1

principal = Rs 15000, rate = 10 whole 1/2

= 21 /2 p.a , time = 3yrs

Find the amount:
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amount = p [ 1 + ( r /100 ) ]^t

amount = 15000 [ 1 + ( 21/2 / 100 ) ]^3

= 15000 [ 1 + ( 21 / 200 ) ]^3

= 15000 ( 221/200 )^3

=15000(221/200 )×(221/ 200)×(221/ 200)

= 15 × 221 × 221 × 221 /8000

= Rs 20238.4

Find the compound interest:
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compound interest= amount - principal

= 20238.4 - 15000 = 5238.4

Answer : C.I = Rs 5238.4

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