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Question
Ameesha loaned Rs. 24,000 to a friend for `2 1/2` at 10 % p.a. compound interest.
Calculate the interest earned by Ameesha.
Solution
`"C"_1 = ("P" xx "R" xx "T")/100 = (24000 xx 1 xx 10)/100 = 2400`
`"P"_1 = 24000 + 2400 = 26400`
`"C"_2 = (26400 xx 1 xx 10)/100 = 2640`
`"P"_2 = 26400 + 2640 = 29040`
`"C"_3 = (29040 xx 1 xx 10)/100 = 2904`
`"P"_4 = 29040 + 2904 = 31944`
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