find compound interest paid when a sum of Rupees 10,000 is invested for 1year & 3 months at 17/2% per annum compounded annualy. ​

Question

find compound interest paid when a sum of Rupees 10,000 is invested for 1year & 3 months at 17/2% per annum compounded annualy. ​

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Gerda 3 years 2021-08-31T16:13:25+00:00 1 Answers 13 views 0

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  1. ngockhue
    0
    2021-08-31T16:14:33+00:00
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    Answer:

    Rs 1,073.56

    Step-by-step explanation:

    The computation of the compound interest is shown below:

    Compound interest = Principal (1 + rate of interest)^time period – Principal

    = Rs 10,000 × (1 + 17 ÷ 2%)^1.25 – Rs 10,000

    = Rs 10,000 × (1 + 0.085)^1.25 – Rs 10,000

    = Rs 11073.56 – Rs 10,000

    = Rs 1,073.56

    The 1.25 come from

    1 year & 3 months

    = 5 by 4

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