Question

Akhil deposited ₹3500 with a company at 15% per annum for 2 years of compound interest. Find the interest he received at the end of 2years.

Answer 1

P =3500
R%=15%
T=2 YEARS
AFTER 1 YEAR:
CI=PRT÷100
CI=(3500×15×1)÷100
CI=525 RS
PRINCIPLE FOR SECOND YEAR =3500+525
=4025RS
FOR SECOND YEAR:
CI=PRT÷100
CI=(4025×15×1)÷100
CI=603.75 RS
THEREFORE INTEREST AT THE END OF SECOND YEAR IS 603.75 RS

Answer 2

Answer:

1128.75

Step-by-step explanation:

Given, P = 3500, T = 2 years, R = 15.

We know that A = P(1 + r/100)ⁿ

                           = 3500(1 + 15/100)²

                           = 3500(115/100)²

                           = 3500(13225/10000)

                           = 4628.75

We know that CI = A - P

                            = 4628.75 - 3500

                            = 1128.75.

Therefore,Compound Interest = 1128.75

Hope it helps!