Find the compund interest and the amount on Rs.5000 at the annual rate of interest 8% for 2 yrs 6 months
Ans will be :-
C.I. = Rs. 1065.28
A = Rs. 6065.28
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Ans will be :-
C.I. = Rs. 1065.28
A = Rs. 6065.28
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Interest for 1 year
(5000×8×1)/100
50×8×1
I =400
amount=5500
Interest for 2 year
(5500×8×1)/100
55×8×1
I = 440
amount=5940
interest for 2nd and half year
(5940×8×1/2)/100
53.4×4
I = 213.6
amount = 6153.60
Total CI = 6153.60-5000= 1153.60