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Calculate the compund interest when principal …

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Calculate the compund interest when principal amount is ₹20480 at the rate of25/4% for 2 years and 73 days

Posted by Richa Talwar 5 years, 6 months ago

CBSE > Class 08 > Mathematics

2 answers

Yogita Ingle 5 years, 6 months ago

We take a year to have 365 days

73 days = 73/365 = 0.2 years

No. of years = 2.2 years

Using the compound interest formula

Amount = P(1 + R/100)^n

Amount = 20480(1 + 6.25/100)^2.2

= 23402

Compound interest = 23402 - 20480

= Rs. 2922

Ayush Sharma 5 years, 6 months ago

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