Question

calculate the compound interest for 2nd year on Rs. 15000 invested for 3 year at
8% per annum.

Answer 1

Answer: Rs.954

Step-by-step explanation: Simple Interest I=100PNR

Here for the first year,

P=Rs.15,000

N=1 year

R=6 %

So, Interest at the end of 1st year I=10015,000×1×6=Rs.

.900

And for the second year,

P=Rs.15,000+Rs.900=Rs.15,900

N=1 year

R=6 %

I=10015,900×1×6=Rs.954