Answer:
Rs. 1076.23
Step-by-step explanation:
The compound interest is given by the formula;
A=P(1+r/n )^nt
where
A= amount at the elapse of the period
P= principal amount = Rs=4000
r=rate of interest=10% =0.1
n=number of times the interest is applied per time period= 1
t=number of time periods elapsed = 30 months = 30/12 = 2.5 years
Applying the formula;
A=P(1+r/n )^nt
A=4000( 1+ 0.1/1)^1*2.5
A=4000(1.1)^2.5
A=4000 * 1.2691
A=Rs. 5076.24
Compound interest will be : 5076.24-4000 = Rs. 1076.23
