Question

a man invested rupees 10000 in a bank for 3 by 2 years at the interest rate of 15 by 2% per annum compounded annually find the amount he received at the end of the period​

Answer 1

Step-by-step explanation:

(P) Principal = Rs.10000

(t) Time period = 3/2 years or 1 and 1/2 years

(r) Rate = 15% per annum (compounded annually)

(n) Number of times compounded in a time period

(A) Amount = P(1+r/(100*n))^n*t

Therefore, Amount = 10000(1+15/100)(1+15/200)

= 10000(115/100)(215/200)

= Rs.12362.50

Hope this is helpful :)

Answer 2

compound interest = 11,145.84

interest earned = 1,145.84