What will be the compound interest when ₹21600 is deposited in a bank at \(16\frac{2}{3}\)% per annum compounded annually for 2 years 73 days?

₹8780

16\(\frac{2}{3}\)% = \(\frac{1}{6}\)

73 days = \(\frac{1}{5}\) of the year.

Here,

C.I of 2 years and 73 days = C.I. of 2 years + \(\frac{1}{5}\) CI. of 3rd year

 = 78 + \(\frac{49}{5}\) = \(\frac{439}{5}\)

Now, ATQ

Principal = 21600

⇒ 216 R = 21600

⇒ 1 R = 100

⇒ C.I. = \(\frac{439}{5}\) x 100 = 8780

OR

CI for 2 yrs = 2 x (21600 x \(\frac{1}{6}\))  + \(\frac{1}{6}\) x 3600 = 7800

CI for last 73 days = \(\frac{1}{30}\) x 21600 + \(\frac{1}{30}\) x 7800 = 980

Total = 8780