Calculate the interest on ruppes 15000 at 5% per annum compounded annualy for 2and ahalf years
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Answer:
Step-by-step explanation:
P=15000
R=5%
N=2andhalf years
Simple interst=p×r×n/100
=15000×5×1/2×100
=75000/200
=375
A=p(1+r/100)^n
=15000(1+5/100)^2
=15000(105/100)^2
=15000×105/100×105/100
=16537.5
A=16537.5+375
=16912.5
Compound interest=a-p
=16912.5-15000
=1912.5
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