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Ameeha Loaned Rs. 24,000 to a Friend for 2 1/2 at 10 % P.A. Compond Interest.

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Question

Ameeha loaned Rs. 24,000 to a friend for `2 1/2` at 10 % p.a. compond interest.

Calculate the amount received by her at the end of time period.

Sum
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Solution

Total interest  = 2400+2640+2904=7944

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Concept of Compound Interest - Compound Interest as a Repeated Simple Interest Computation with a Growing Principal
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