Request a call back

Join NOW to get access to exclusive study material for best results

ICSE Class 9 Answered

Calculate the amount of rupees 30000 at the end of 2 years 4 months, compounded annually at 10% per annum.
Asked by harendrasinghpandura | 20 Oct, 2020, 12:01: PM
answered-by-expert Expert Answer
Since we have given that
Principal = Rs. 30000
Rate of interest = 10% p.a.
Time = 2years and 4 months which is equal to 7/3 years
First we calculate the amount for 2 years using the Compound interest formula:
A equals P open parentheses 1 plus r over 100 close parentheses to the power of n
A equals 30000 open parentheses 1 plus 10 over 100 close parentheses squared
A equals 36300
N o w space t h i s space w i l l space b e c o m e space t h e space p r i n c i p l e space a m o u n t space f o r space t h e space n e x t space 1 divided by 3 space y e a r space a n d space h e n c e space w e space w i l l space c a l c u l a t e space t h e space s i m p l e space i n t e r e s t space f o r space t h e space r e m a i n i n g space t i m e
I equals fraction numerator P n R over denominator 100 end fraction
I equals fraction numerator 36300 cross times 1 cross times 10 over denominator 100 cross times 3 end fraction
I equals 1210
 
So the total 36300+1210
=37510
Answered by Utkarsh Lokhande | 20 Oct, 2020, 02:43: PM
ICSE 9 - Maths
a
question image
Asked by ay7599219263 | 28 Mar, 2024, 09:30: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
ICSE 9 - Maths
Asked by papunsarkar | 28 Mar, 2024, 08:30: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
ICSE 9 - Maths
Asked by jatinderkaur19852008 | 19 Mar, 2024, 05:03: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
ICSE 9 - Maths
Asked by ranvirbnk | 11 Mar, 2024, 08:33: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
ICSE 9 - Maths
Asked by ck902183 | 10 Mar, 2024, 11:51: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
ICSE 9 - Maths
Asked by nehaabhang21122016 | 09 Mar, 2024, 12:25: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
ICSE 9 - Maths
Asked by rawatnisha05876 | 06 Mar, 2024, 10:53: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
ICSE 9 - Maths
Asked by tripathiaditya881 | 01 Mar, 2024, 12:25: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
Get Latest Study Material for Academic year 24-25 Click here
×