Find the compound interest on a sum of Rs.6280 for one year and seven months @ the rate of 8% per annum reckoned yearly? ANSWER:Rs.813.81 . "CAN ANYBODY PLEASE HELP ME IN FINDING THE ANSWER FOR THIS"
Menu
Compound interest
Replies (5)
Compound Interest for the First Year =
6280 * 8% = 502.4Principal Amount at the beginning of the second Year =
6280 + 502.4 = 6782.4Compound Interest for 7 months of the Second Year =
6782.4 * 8% * 7/12 = 316.512Therefore, Total Interest =
502.4 + 316.512 = 818.91
Compound Interest for the First Year =
6280 * 8% = 502.4
Principal Amount at the beginning of the second Year =
6280 + 502.4 = 6782.4
Compound Interest for 7 months of the Second Year =
6782.4 * 8% * 7/12 = 316.512
Therefore, Total Interest =
502.4 + 316.512 = 818.91
Thanku u Aishwarya subalal padakkal
You Are Most Welcome Aswatha.. 
Thanks..
Recent Topics :
- Gst input credit
- CAN PARTNERSHIP FIRM SIGN SERVICE AGGREMENT WITH A
- E-waybill
- Sell of CAFC books
- ITC ON RENT
- GSTR-9 Table 8A Portal and Excel Issues
- IGST on Commercial Rental Income (Different State)
- Revocation of suo moto cancelled GST registration
- Is there any faculty taking chapterwise test in CA
- Late Fees and Interest
Related Topics :
CAclubindia
