Question

1)What will be the Compound interest on Rs.5000 at the rate of
15% p.a for 2 years?

Answer 1

5000×15×2/100=1500 is the answer

Answer 2

Answer:

$a = p(1 + \frac{r}{100}) ^{t } \\ 5000(1 + \frac{15}{100}) ^{2} \\ 5000(1 + \frac{3}{20}) ^{2} \\ 5000( \frac{20 + 3}{20})^{2} \\ 5000 \times \frac{23}{20} \times \frac{23}{20} = 6,612.5 \\ ci = 6,612.5 - 5000 \\ = 1612.5$