Browse by Stream
QnA
Home
QnA
Go To Your Study Dashboard

Get Answers to all your Questions

header-bg qa
  • Home
  • NCERT
  • Calculate the amount and compound interest on Rs 18000 for 2.5 years at 10% per annum compounded annually.

1    Calculate the amount and compound interest on 

            (b) Rs 18,000 for  2\frac{1}{2}   years at 10% per annum compounded annually.

Answers (1)

best_answer

Given,

Principal,P =Rs.18000,  Rate,R = 10%   and time period,n = 2.5 years. 

We know, Amount when interest is compounded annually = P(1+\frac{R}{100})^n

Amount after 2 years at 10% , A = 18000(1+\frac{10}{100})^2 = Rs.21780

This acts as the principal amount for the next half year.

SI on next 1/2 year at = \frac{21780\times\frac{1}{2}\times10}{100}= Rs. 1089

Therefore, Total amount to be paid after 2.5 years = Rs. (21780+1089) = Rs.22869

Now, Compound Interest after 2 years = A - P = Rs.(21780-18000) = Rs. 3780

Therefore, Compound Interest after 2.5 years, CI = Rs. 3780 + SI = Rs.4869

Posted by

HARSH KANKARIA

View full answer

Similar Questions

Trending Articles/News

anam-khan

JNVST 2024: NVS Class 6, 9 results out; documents required for admission
anam-khan

JNVST Class 6, 9 result 2024 likely tomorrow at navodaya.gov.in; cut-off marks, total seats
anam-khan

Navodaya Class 9 results 2024 likely by end of March; expected cut-offs

Latest Question