Question

13. What is the difference in simple interest and compound interest on rupees 15000 for 2 years at 6% p.a compounded annually .​

Answer 1

Answer:

we know

p(1+r/100)^n

p=15000

r=6%

n=2years

15000× (1+6/100)^2

=15000× (106/100)^2

=15000× (1.06)^2

=15000× 1.1236

=16, 854