Without using C.I formula, calculate compound interest on ₹50,000 for 5/2 years at 10% p.a
Answers
Compound interest Earned = 13525 Rs on ₹50,000 for 5/2 years at 10% p.a
Step-by-step explanation:
Amount = 50000 Rs
Rate of interest = 10 % pa
Time = 5/2 Years = 2.5 Years = 2 years 6 months
Interest for 1st Year = 50000 * 10 * 1/100
= 5000 Rs
Amount after one Year = 50000 + 5000 = 55000 Rs
Interest for 2nd Year = 55000 * 10 * 1/100
= 5500 Rs
Amount after 2nd Years = 55000 + 5500 = 60500 Rs
Interest for next 6 Months = 1/2 Years
= 60500 * 10 * (1/2)/100
= 3025 Rs
Total Interest Earned = 5000 + 5500 + 3025
= 13525 Rs
Compound interest Earned = 13525 Rs
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Answer:
for 1st years ₹50000×1×10
100
=5000
forse