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Question
Calculate the amount and the compound interest for the following:
Rs.22, 500 at 12 °/o p.a. in `1 3/4` years
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Solution
Here, P = Rs.22, 500; r = 12 °/o p.a.; t = `1 3/4` years
For the first year: t = 1 year
S.I. = `("P" xx "r" xx "t")/100`
S.I. = `("Rs" 22500 xx 12 xx 1)/100`
S.l. = Rs2, 700
A=P+S.I.
=Rs (22,500 + 2,700) =Rs 25,200 =new principal
For the second year: t = 3/4 year; P=Rs 25,200
S.I. = `("P" xx "r" xx "t")/100`
S.I. = `("Rs" 25200 xx 12 xx 3)/(100 xx 4)`
S.I. = Rs 2268
A=P+S.I.
A=Rs (25,200 + 2,268) =Rs 27,468
C.l. = Interest in first year + interest in second year
C.l.= Rs (2,700 + 2,268) =Rs 4,968
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