Question

calculate the compound interest on rs 15000 for 2 years at 6% p.a​

Answer 1

Answer:

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Step-by-step explanation:

Principal (P) = Rs. 15000

Rate (R) = 6% p.a

Period (n) = 5 years

Interest for the first year = PRT/100

= (15000 × 6 × 1)/100 = Rs. 900

∴ Amount for the first year = Rs. 15000 + 900

= Rs. 15900

Principal for the second year = Rs. 15900

Interest for the second year = (15900 × 6 × 1)/100

= 159 x 6 = Rs. 954

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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