Question

Calculate the amount and compound interest on 15000 for 2 years at 8% per annum compounded annually

Answer 1

Step-by-step explanation:

Amount = P(1+r%)^t & [C.I. = amt. - p]

where,.

P=15,000(Rs.), t=2yrs r= 8%

Therefore,

Amount = 17,496(Rs.)

C.I. = 17,496 - 15,000 = 2,496 (Rs.)