Question

Calculate
(1) The compound interest for the second year on rupees 15000 invested for 3years at 8% per annum (2) the sum due at the end of third year.

Answer 1

Simple Interest I=  $\frac{PTR}{100}$

Here for first year,

P=Rs 15,000

N=1 year

R=6 %

So, Interest at the end of 1st year I= $\frac{15,000*1*6}{100}$  

                                                        =Rs900

And for second year,

P= Rs15,000 + Rs900 = Rs15,900

N=1year

R=6 %

I=  $\frac{15900*1*6}{100}$

=Rs954