Question

A person lends ₹ 1500 from a bank. If the bank fixes the rate of interest at 11% per annum, then the amount he has to pay back after 2 yr will be? ​

Answer 1

Answer:

348.15

Step-by-step explanation:

P = 1500; R=11\%;

T = 2 years for first year,

S.I=1500*11*1/100=165;

nt=P+S.I; 1500 + 165 = 1665

For second year,

p = 1665;

R=11\%; T = 1 year

S.l=1665*11*1/100=183.15

So compound interest will be, 165 + 183.15 = 348.15

Please Mark me as BRAINLIEST