Question

calculate the compound interest on rupees 5000 at the rate of 15% per annum for 2 years

Answer 1

P= 5000
R=15 percent
T = 2 years

SI = 5000*15*2
________
100
= 50*15*2
= 1500

Answer 2

a=p (1+r/100)power n
= 5000 (1+15/100)power 2
=5000×23×23/20×20
=50×23×23/4
a= 6612.5
now cp=a-p
=6612.5-5000
=1612.5