Question

Calculate the compound interest for the second year on rupees 15000 invested for 3 year at 8% per annum

Answer 1

Answer:

★ Compound Interest for two year = Rs 196 ★

Step-by-step explanation:

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

$\small\implies{\sf }$ 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

$\small\implies{\sf }$ 16,200 x 8 x 1 / 100 = Rs 1296

So, Compound Interest will be Rs 1296

Answer 2

Answer:

given,

p=15000

N=3

R=8%

S I for first year=PNR/100

=15000*3*8/100

=3600

And for second year=15000+3600

=18600

N=1

R=10%

compound interest for= 18600*1*8/100

Rs= 1488

1488 is the compund interest at the end of second year.