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.