Question

5. A sum of Rs. 15,000 is kept in a fixed deposit in a bank that pays 4% annual interest
compounded yearly. The amount of interest the deposit will earn in 2 years will be​

Answer 1

Answer:

1200

Step-by-step explanation:

15000(1+4/100) ^2

15000(100+4/100) ^2

15000(104/100) ^2

15000(26/25) ^2

15000X676/625

16200(Amount)

16200-15000=1200(Interest)

Answer 2

Answer:

Rs1200 is simple intrest

Step-by-step explanation:

using formula

S. I. =PRT(Principal *Rate*Time)/100