Q. The compound interest on Rs. 8,000 at 15% per annum for 2 years 4 months, compounded annually is :
Answer: Rs. 3109
Notes: $latex Amount = p\left ( 1+\frac{R}{100} \right )^{t}&s=1$ $latex = 8000\left ( 1+\frac{15}{100} \right )^{2\frac{1}{3}}&s=1$ $latex = 8000\left ( 1+\frac{3}{20} \right )^{2}\left ( 1+\frac{3}{20\times 3} \right )&s=1$ $latex = 8000\times \frac{23}{20}\times\frac{23}{20}\times\frac{21}{20}&s=1$ $latex = Rs. 11109 $ ∴ Compound Interest = Rs. (11109 - 8000) = Rs. 3109 Hence option [A] is the right ansewr.

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