What would be the compound interest on Rs.7700/- at 15 ¼% per annum for 2 years compounded annually

Principal = Rs. 7700/- 

time = 2 years 

rate = 15 ¼% 

Amount = P(1+R/100)n 

= 7700 × (1 + 61/(4 × 100)2) 

= 7700 × [(1 + 61/400)2] 

= 7700 × [(461/400)2)] 

= 7700 × 461/400 × 461/400 

= 7700 × 1.1525 × 1.1525 

= 7700 × 1.32825625 

= 10227.573125 


C.I = 10227.573125 - 7700 = 2527.57/-