Question

what will be the compound interest of 21600 with an interest rate of 16 2/3 percent in
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Answer 1

Answer:

Step-by-step explanation:I'll try my level best

Answer 2

The interest in 3 years at given rate of interest is Rs 12,700.8

Step-by-step explanation:

Given as :

The principal amount = p = Rs 21600

The rate of interest applied = r = 16 $\dfrac{2}{3}$ % = $\dfrac{50}{3}$ % = 16.67 %

Time period = t = 3 years

Let The Amount after 3 years = Rs A

Let The compound Interest = C.I

According to question

From compound Interest method

Amount = Principal × $(1+\dfrac{rate}{100})^{time}$

Or, A = p × $(1+\dfrac{r}{100})^{t}$

Or, A = Rs 21600 × $(1+\dfrac{16.67}{100})^{3}$

Or, A = Rs 21600 × (1.1667)³

∴   A = Rs 21600 × 1.588

i.e A = Rs 34300.8

So, The Amount after 3 years = A = Rs 34300.8

Now, Interest = Amount - Principal

Or,      C.I =  Rs 34300.8  -  Rs 21600

i.e       Compound Interest = Rs 12,700.8

So, The interest in 3 years = C.I = Rs 12,700.8

Hence, The interest in 3 years at given rate of interest is Rs 12,700.8 Answer