Question

A person lends Rs. 1500 from a bank . If the bank fixes the rate of intrest as 11% per annum, then the amount he has to pay back after 2 years will be ?​

Answer 1

P=1500

R=11%

T=2 years

for first year,

S.I=1500×11×1÷100= 165

Amount=P+S.I

1500+165=1665

For second year,

p=1665

R=11%

T=1 year

S.I=1665×11×1÷100=183.15

So compound interest will be,

165+183.15=348.15 ans.

Answer 2

Answer:

Given,P=Rs- 1500; R=11%,T=2yr

SI=P×R×T/100

1500×11×2/100 = Rs- 330

Amount,A=P+SI

so,1500+330=Rs- 1830Ans