Given:
Present value= ₹ 9000
Interest rate= 10 % per annum
Time=2 years 6 months = (2 + ½) years= 5/2 years
To find the amount we have the formula,
Amount (A) = P (1+(R/100))n
Where P is present value, r is rate of interest, n is time in years.
Now substituting the values in above formula we get,
∴ A = 9000 (1 + 10/100)2 [1 + (1/3 × 10)/100]
⇒ A = 9000 (1+1/10)2 (1+1/30)
⇒ A = 9000 (11/10)2 (31/30)
⇒ A = 9000 × 121/100 × 31/30 = 9 × 121 × 31/3
⇒ A = ₹ 11253
∴ Compound interest = A – P
= 11253 – 6000 = ₹ 2253
