Question

calculate the amount and compound interest on 15000 for 2 years at 10% per annum compounded annually

Answer 1

Answer:

c.i = 3150

Step-by-step explanation:

solution-------->

Given

• P = 15000
• N = 2
• R = 10%

now as we know formula

$a = p ( {1 + \frac{r}{100}})^{n} \\ \\ put \: all \: the \: value \\ \\ a = 15000( {1 + \frac{10}{100} })^{2} \\ \\ \: \: \: \: = 15000 \times { (\frac{110}{100} })^{2} \\ \\ \: \: \: \: = 15000 \times \frac{110}{100} \times \frac{110}{100} \\ \\ \: \: \: \: = 150 \times 11 \times 11 \\ \\ \: \: \: = 150 \times 121 \\ \\ a \: \: = 18150 \\ \\ no w \: for \: compound \: intrest \: \\ \\ c.i = a \: - p \\ \\ c.i = 18150 - 15000 \\ \\ c.i = 3150$

Answer 2

Dear Student,

● Answer -

Compound interest = 3150 Rs

● Explaination -

# Given -

P = 15000 Rs

r = 10 % per annum

t = 2 years

# Solution -

Compound interest over sum p is given by formula -

CI = P [(1+r)^t - 1]

CI = 15000 [(1 + 10/100)^2 - 1]

CI = 15000 [(1+0.1)^2 - 1]

CI = 15000 [1.1^2 - 1]

CI = 15000 [1.21 - 1]

CI = 15000 × 0.21

CI = 3150 Rs

Therefore, compound interest is 3150 Rs.

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