Calculate the amount on Rs 15,000 for 2 years at 10% per annum
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Answer:
c.i = 3150
Step-by-step explanation:
solution-------->
Given
P = 15000
N = 2
R = 10%
now as we know formula
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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