Question

1.Find the amount and compound interest on ₹20000 at 15% p.a. for 1 years if the interest is compounded annually.

Answer 1

Answer:

Amount = 20,000 x ( 1 + 15/100) ^1

20,000 x 115/100

= 23,000 Rs

Interest = 23,000 - 20,000 = 3,000 Rs