Question

find the amount ₹15000 for 2years at 8
% p.a​

Answer 1

Answer:

HERE IS YOUR ANSWER

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SOLUTION ⤵️

FOR THE FIRST YEAR :

Here,

Principal = Rs. 15,000

Time = 1 Year

Rate of interest = 8% p.a.

\begin{gathered}\: \: Simple \: \: interest = \: \frac{ \: P \times R \times T\: }{100} \\ \\ = Rs \frac{15000 \times 1 \times 8}{100} \\ \\ \: Rs \: \: 1200\end{gathered}

Simpleinterest=

100

P×R×T

=Rs

100

15000×1×8

Rs1200

: Interest for the first year = Rs. 1200

So,

Amount = P + S.I.

= Rs. 15000 + Rs. 1200

= Rs. 16,200

FOR THE SECOND YEAR:

In the second year, the amount in the first year becomes the principal here.

So we have,

Principal = Rs. 16,200

Time = 1 year

Rate of interest = 8% p.a.

\begin{gathered}\: Simple \: \: interest = \: Rs \frac{16200 \times 1 \times 8}{100} \\ \\ = \: \:Rs \: 1296\end{gathered}

Simpleinterest=Rs

100

16200×1×8

=Rs1296

So,

Compound Interest for two years

= Rs. 1,200 + Rs. 1,296 = Rs. 2,496

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