Question

Calculate the compound interest on ` 15,000 for 2 years at 6% p.a.​

Answer 1

Answer:

● Explaination -

1 . # Given - P = 15000 Rs. r = 10 % per annum. t = 2 years.

2 . # Solution - Compound interest over sum p is given by formula - CI = P [(1+r)^t - 1] CI = 15000 [(1 + 10/100)^2 - 1] CI = 15000 [(1+0.1)^2 - 1] CI = 15000 [1.1^2 - 1] CI = 15000 [1.21 - 1] ...

3 . CI = 3150 Rs. Therefore, compound interest is 3150 Rs.

Answer 2

Compound interest on  15,000 for 2 years at 6% p.a is 1854

Given is

Principal  P = 15000

Rate of Interest R = 6 % per annum

Time  n  = 2 years

A = Amount after 2 Years

Compound Interest = A - P

Formula for A is :

$A=P(1+\frac{R}{100})^n$

Substitute the values :

$A=15000(1+\frac{6\left \{ {{y=2} \atop {x=2}} \right. }{100})^2\\\implies A = 16854$

Compound Interest = 16854 - 15000

=> Compound Interest = 1854  

Compound interest on  15,000 for 2 years at 6% p.a is 1854

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