Question

Find compound interest...

Answer 1

Answer:

Step-by-step explanation:

Given:

1. Principle = p = 30,00,000
2. Rate of interest = 13.5% i.e. 0.135%
3. Time = 15 yrs

To Find:

1. Compound Interest
2. Amount

Equation used:

1. $\boxed{CI = P(1+i)^n-1}$
2. $\boxed{Amt = P(1+i)^n}$

Solution:

$\boxed{CI = P(1+i)^n-1}$

$CI = 30,00,000(1+0.135)^{15}-1$

$CI = 30,00,000(1.135)^{15}-1$

$[(1.135)^{15}-1] = 5.682484$

$CI = 30,00,000 * 5.682484$

$\boxed{CI = 1,70,47,451}$

Final Answers:

Thus the compound interest for 30,00,000 at 13.5% for 15 yrs is 1,70,47,451

$\boxed{Amt = Principle + Interest}$

$\boxed{Amt = 30,00,000 + 1,70,47,451 = 20,047,451}$

Answer 2

Step-by-step explanation:

Kapil invest Rs.12,000 for three years at 10% per annum compound interest in bank of

Baroda.Calculate. (i)the compound interest for the second year (ii) the

amount standing to his credit at the beginning of 3rd year.