Question

Compute the compound interest on :
(i) Rs. 1500 for 2 years at 6% per annum.​

Answer 1

Answer:

Rs. 185.40

Step-by-step explanation:

C.I = amount * rate in two years

= 1500 * 12.36/100 ( as we know interest for one year is 6% so in second year               we will also get interest on first year interest )

= 185.40

Answer 2

Answer:

The Compound Interest is Rs. 518.4.

Step-by-step explanation:

Given :

Principal = Rs. 1500

Time = 2 years

Rate = 6%

To find :

Compound interest

Solution :

$\bigstar \: {\boxed{\sf{A= P\left( 1 + \frac{R}{100}\right)^{N}}}}$

$\sf{\implies} \: A= 1500\left( 1 + \dfrac{6}{100}\right)^{2} \\ \\ \sf{\implies} \: A=1500\left( \dfrac{116}{100}\right)^{2} \\ \\ </p><p>\sf{\implies} \: A = 1500 \times \dfrac{116}{100} \times \dfrac{116}{100} \\ \\ \sf{\implies} \: A = 3 \times \dfrac{116}{20} \times 116 \\ \\ \sf{\implies} \: A = 3 \times \dfrac{29}{5} \times 116 \\ \\ \sf{\implies} \: A = \dfrac{10092}{5} \\ \\ \sf{\implies} \: A = 2018.4$

$\bigstar \: \boxed{\sf{CI = Amount - Principal}}$

$\sf{\implies} \: CI = 2018.4 - 1500 \\ \\\sf{\implies} \: CI = 518.4$

Compound interest = Rs. 518.4

$\therefore$ The Compound Interest is Rs. 518.4.