Calculate the compound interest on ₹5000 at the rate of 15%per annum for 2 years.
Answers
Answered by
2
Answer:
Step-by-step explanation:
Time=2
Principal=Rs 5000
- Rate=15%
Compound interest=P[1+r/100}power n
=500[1+15/100]power2
=500[115/100]power2
=500[115/100][115/100]
=661.25
total amount to be paid at the end of 2 years = Rs 5000+661.25
=Rs 5661.25
Answered by
3
Answer:
Answer:
Step-by-step explanation:
Time=2
Principal=Rs 5000
Rate=15%
Compound interest=P[1+r/100}power n
=500[1+15/100]power2
=500[115/100]power2
=500[115/100][115/100]
=661.25
total amount to be paid at the end of 2 years = Rs 5000+661.25
=Rs 5661.25
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