The compound interest (in ₹) on ₹ 800 for 2 f | vedclass

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Question

(B) The formula for compound interest for fractional years is $CI = P \left[ \left(1 + \frac{R}{100} ight)^n \left(1 + \frac{\frac{a}{b} 	imes R}{1

Vedclass · Accepted Answer

$104.05$

Vedclass · Answer

(B) The formula for compound interest for fractional years is $CI = P \left[ \left(1 + \frac{R}{100} ight)^n \left(1 + \frac{\frac{a}{b} 	imes R}{100} ight) - 1 ight]$.Here,$P = 800$,$R = 5 \%$,$n = 2$ years,and the remaining time is $\frac{1}{2}$ year.$CI = 800 \left[ \left(1 + \frac{5}{100} ight)^2 \left(1 + \frac{\frac{1}{2} 	imes 5}{100} ight) - 1 ight]$$CI = 800 \left[ \left(\frac{21}{20} ight)^2 \left(1 + \frac{5}{200} ight) - 1 ight]$$CI = 800 \left[ \frac{441}{400} 	imes \frac{41}{40} - 1 ight]$$CI = 800 \left[ \frac{18081}{16000} - 1 ight]$$CI = 800 	imes \frac{2081}{16000} = \frac{2081}{20} = ₹ 104.05$.

The compound interest (in ₹) on ₹ $800$ for $2 \frac{1}{2}$ years at $5 \%$ per annum is:

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