Question

Find compound interest on 15000@6% pa compound interest for 7 years

Answer 1

Answer:

it is very easy

............. wait.....

Answer 2

Answer:

So,the formula to find compound interest

A= P(1+r/100)^t

$\sf\tt\large{\green {\underline {\underline{⚘\Step \:by\: step\:⚘:\:Solution⧪:}}}}$ 

So,let's solve it now

A=15000(1+6/100)^7

A = 15000(53/50)^7

A =15000×53×53×53×53×53×53×53/ 50*50*50*50*50*50*50

A = 22,554.45

So, let's find Compound interest

C.I = A- P

C.I = 22554.45 – 15000

C.I = 7554.45

${\small{\boxed{\sf{\pink{So, \:Compound \:interest\: for\: 7 \:yrs\: is\: ₹7554.45\:} } } } }$