Find the compound interest on ₹9,500 at 11% p.a. for 2 years 6 months, compounded annually.

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Accepted Answer

1. **Given:** $P=₹9500$, $r=11\%$, time = 2.5 years (2 years + 6 months).

2. **Amount after 2 years:**

$A_2 = P(1+r)^2 = 9500	imes(1.11)^2 = 9500	imes1.2321 = 11704.95$.

3. **Interest for 6 months:**

Half-year rate = $0.11	imes	frac{1}{2}=0.055$.

Interest = $11704.95	imes0.055 = 643.77$ (rounded).

4. **Total amount and CI:**

$A = 11704.95 + 643.77 = 12348.72$.

Compound interest = $A - P = 12348.72 - 9500 = 2848.72$.

FINAL_ANSWER: a

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