calcutate the amount if rs18000 is invested at 15 p.a compounded annually for 3 years
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Answer:
Step-by-step explanation:
ANSWER
Sum=Rs.18000
Time =2 years
Rate of intereast=15%
A=P(1+
100
r
)
n
⇒A=Rs.18000(1+
100
15
)
2
⇒18000×
100
115
×
100
115
⇒Rs.23805
∴ Compound Interest =A−P
=Rs.23805−Rs.18000=Rs.5805
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