Question

Find interest and amount to be paid on Rs15000 at 5percent per annum after 2 year

Answer 1

Answer: Principal = 15000

              Rate of interest = 5%

              Time = 2 years

              Therefore,

              Total Interest = ( rate of interest * principal ) (time)

                                      = (5% of 15000)(2)

                                      = 1500

               AMOUNT = PRINCIPAL + TOTAL INTEREST

                                 = 15000 + 1500

                                 = 16500

 THUS THE AMOUNT TO BE PAID AFTER 2 YEARS IS  Rs 16500.