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find the compound interest and the amount on rupees 5000 the annual interest rate of 8% for 2 years 6 month |
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Answer» Answer: PRINCIPAL (P) = ₹5000 Rate of interest (R) = 8% p.a Time (n) = 2 years 6 MONTHS = 18 months = 18/12 years = 3/2 years = 1½ years TO FIND: Amount and COMPOUND interest SOLUTION: Amount (A) = P (1 + r/100)¹ [1 + ½ (r/100)] A = 5000(1 + 8/100) [1 + ½ (8/100) ] A = 5000(1 + 0.08) [1 + 8/200 ] A = 5000(1.08) [1 + 0.04 ] A = 5000(1.08) [1.04] A = 5000(1.1232) Amount = ₹5616 Compound interest (CI) = A - P CI = 5616 - 5000 Compound interest = ₹616 HOPE IT HELPS YOU!! |
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