Question

calculate the amount of Rs.15000 at the end of 2 years 4 months at 6% compounded annually​

Answer 1

Answer:

15600

Step-by-step explanation:

the formula for compound interest is :

A = P (1+ r/100) ^n

where A is amount received

P is the principal

r is the rate of interest

n is the number of years

convert 4 months in terms of years

= 4/12 = 1/3

now place the amounts into the formula:

A = 15000 (1 +6/100)^(2*1/3)

15594.15

to 3sf:

15600

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