Question

Calculate the compound interest for second year on 15000 invested for 5years at 6%per annum

Answer 1

$\huge\mathbb{\green{QUESTION-}}$

Calculate the compound interest for second year on 15000 invested for 5years at 6%per annum

$\huge\mathbb{\green{SOLUTION-}}$

$\large\underline{\underline{\sf Given:}}$

• Principal ( P ) = Rs. 15000
• Time ( T ) = 5 years
• Rate ( R ) = 6% per annum

$\large\underline{\underline{\sf To\:Find:}}$

• Compound Interest ( C.I )

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Interest For First Year ⎯

$\large{\boxed{\sf I = \dfrac{ PRT}{100} }}$

$\implies{\sf I = \dfrac{15000×6×5}{100} }$

$\implies{\sf I = Rs. 900}$

Amount For First Year ⎯

$\large{\boxed{\sf Amount = Principal + Interest }}$

$\implies{\sf A = 15000 + 900}$

$\implies{\sf A = Rs. 15900 }$

Principal For Second Year ⎯

⎯ Rs. 15900

Interest For Second Year⎯

$\implies{\sf \dfrac{15900×6×1}{100} }$

$\implies{\sf 159×6 }$

$\implies{\bf \red{ Rs. 954}}$

$\huge\mathbb{ \green{ANSWER-}}$

Compound Interest For Second Year is ${\bf \red{Rs. 954}}$