Question

YADAIAH FOR HIS FAMILY NEEDS BORROWED RS.5120 AT 12.5 PERCENT.PER ANNUM COMPOUNDED ANNUALLY .HOW MUCH AMOUNT HE HAS TO PAY TO CLEAR THE DEBT AT THE END OF TWO YEARS NINE MONTHS? ALSO FIND HOW MUCH TOTAL INTEREST HE HAS PAID?

PLEASE ANSWER ME CLEARLY.......

Answer 1

given,

P = 5120 Rs
r = 12.5 %
n = 2years 9 months =2 years + 9/12 years
= ( 2 + 3/4) years = 11/4 years

now,
use formula,

A = P( 1 + r/100)^n

=5120( 1 + 12.5/100)^11/4

=5120( 1 + 25/200)^11/4

=5120(1 + 1/8)^11/4

=5120(9/8)^2.75

=7078.47 Rs

now, interest = A -P = 7078.47 -5120
= 1958.47 Rs

Answer 2

Answer:

Time=2 9/12=2 3/4

P=5120

R=12 1/2%=25/2%

First find the amount for whole part.then use this as a principal to get simple interest for3/4 years.

So A=P(1+R/100)^n

=5120(1+25/2*100)^2

=5120(1+25/200)^2

=5120(225/200)^2 (done LCM)

=Rupees 6480

Interest for remaining 9 months=6480*25/2*3/4*1/100=rupees 607.50

So,yadaih has to pay at the end of two years nine months=6480+607.5=7087.50

So total compound interest =7087.50-5120=1967.50