Question

Calculate the compound interest on R 5000 at the rate of 15% per annum for 2 years.​

Answer 1

Step-by-step explanation:

1612.5 is the answer for above question

Answer 2

Step-by-step explanation:

for 1st year

I = P*R*T/ 100

I= 5000*15*1/100

I=50*15

I=₹750

the interest of 1st year will become principle for 2nd year.

interest for 2nd year

I=p*r*t/100

I=750*15*1/100

I=75*15/10

I=1125/10

I=112.5

total compound interest = interest of 1st year + interest of 2nd year

CP= 750+112.5

CP= ₹862.5

hope it helps