Question

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

Answer 1

Rate of interest =6%
principal for the first year=15000
interest for the first year=15000×6×1÷100=900
amount at the end of first year=900+15000=15900
principal for the second year=15900
interest for second year=15900×6×1÷100=954 answer

Answer 2

Answer:

Hope you like the method

so in your question

Principal: Rs.15000

Rate : 6%P.a

Time is 5 years

So for interest for 1st year

I=PRT/100

15000×6×1/100=Rs.900

Amt:Rs(15000+900)=Rs.15900

For 2nd year: 15900×6×1/100

159×6=Rs.954

Here's your ans friend.