Question

95. Calculate the simple interest
and compound interest
P= Rs 8500, Rate = 15% T=3Y​

Answer 1

Step-by-step explanation:

P=Rs.8500, Rate of interest = 15%, time = 3years.

Simple Interest = p*r*t/100

= Rs. 3825.

For Compound Interest,

$amount = p {(1 + \frac{r}{100} )}^{2}$

$= 8500( {1 + \frac{15}{100}) }^{2}$

$= 8500 ( { \frac{100 + 15}{100}) }^{2}$

$= 8500 \times \frac{115}{100} \times \frac{115}{100}$

$= \frac{1124125}{100}$

$= 11241.25$

Compound Interest = amount -principal

=Rs. (11241.25-8500)

= Rs. 2741.25