Find compound interest on Rs. 8000 at 15% per annum for 2 years 4 months, compounded annually

Time = 2 years 4 months = 2(4/12) years = 2(1/3) years. Amount = Rs. [8000 X (1+(15/100))^2 X (1+((1/3)*15)/100)] =Rs. [8000 * (23/20) * (23/20) * (21/20)] = Rs. 11109. . :. C.I. = Rs. (11109 - 8000) = Rs. 3109.