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Find compound interest on sum of Rs 640 at 50/3% per annum for 11/4 years.

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Find compound interest on sum of Rs 640 at 50/3% per annum for 11/4 years.
posted Nov 30, 2016 by Tapesh Kulkarni

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1 Answer

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Best answer

Amount after Compound Interest
=principle*(1+(interest rate/100))^(no of compounds)
= 640*(1+(50/3))^(11/4)
=977.88.
Therefore Compund interest
= principle - amount
= 977.88 - 640 = 337.88

answer Nov 30, 2016 by Tejas Naik
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