1.

Find compound interest on Rs. 8000 at 15% per annum for 2 years 4 months, compounded annually.

Answer»

Time = 2 years 4 months = 2(4/12) years = 2(1/3) years. 

Amount = Rs'. [8000 X (1+(15/100))2 X (1+((1/3)*15)/100)] 

=Rs. [8000 * (23/20) * (23/20) * (21/20)] 

= Rs. 11109. . 

  C.I. = Rs. (11109 - 8000) = Rs. 3109.



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