Question

. Calculate the compound interest for the
second year on 15,000 invested for 5 years
at 6% per annum.​

Answer 1

Simple Interest I= PNR/100

Here for first year,

P=Rs15,000

N=1year

R=6 %

So, Interest at the end of 1st year I

= (15,000×1×6) / 100 = Rs900

And for second year,

P=Rs15,000+Rs900=Rs15,900

N=1year

R=6 %

I= (15,900×1×6) / 100

=Rs954

HOPE THIS HELPS YOU ☺️