Question

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

Answer 1

Compound Interest for two year = Rs 196

Given:

Principal is 15,000

• Time is 3 year

• Rate is 8% per annum

To Find:

Compound Interest for second year

Solution:

→ S.I = P x R x T / 100

.. S.l for 1st year = 15,000 x 8 x 1/100

Rs 1200

So, Amount at the end of 1st year = 15,000 + 1200 = Rs 16,200

(This will be principal for 2nd year)

→ S.I for 2nd year = P x R x T / 100

So, Amount at the end of 1st year = 15,000 + 1200 = Rs 16,200

(This will be principal for 2nd year)

→ S.I for 2nd year = P x R x T / 100

16,200 x 8 x 1/100 = Rs 1296

So, Compound Interest will be Rs 1296