Question
Find the compound Interest on Rs. 8,000 @15 % p.a for 2
years 4 month Compounded annually?Solution
C.I for 1 st year = (8000 × 15 × 1)/100 =1200 C.I for 2nd year = (9200 × 15 × 1)/100 = 1380 C.I for 1/3 year = (10580 × 15 × 1)/(100 × 3) = 529 Total C. I = 1200 + 1380 + 529 = Rs. 3109
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