Question

XI
EXERCISE 8.1
5x1
Calculate the compound interest on 21,600 for 3 years at 5% per annum compounded annually.
tied the amount and the compound interest on 72​

Answer 1

Answer:

23200

Explanation:

The amount after 5 years of compound interest , on Rs. 21600 at 16 2/3 % ie 50/3 % compounded every 2 years

= Rs. 21600(1+50*2/300)²(1+50*1/300)

= Rs. 21600(1+1/3)²(1+1/6)

=Rs.21600(4/3)²(7/6)= Rs. 44800.

Therefore, compound interest=Rs.(44800–21600)=Rs.23200.

hope it help