A sum of ₹2000 is invested at compound interest (compounding annually). If the rate of interest is 10% per annum, then what will be the amount after 30 months?
30 months = 30 divides 12
= 2$$\frac{1}{2}$$
compound interest = $$P(1+\frac{R}{100})^n$$
= P ($$(1+\frac{R}{100})^2$$ × $$(1+\frac{0.5\times R}{100})^1$$)
2000 ($$(1+\frac{10}{100})^2$$ × $$(1+\frac{0.5\times 10}{100})^1$$)
= 2541
Create a FREE account and get:
