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

Question

How much times (in years) will it take for an amount of Rs. 450 to yield Rs. 162 an interest at 4.5% per annum of simple interest?

Answer 1

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