Find the amount and compound interest on rs.15000 for 2 years at 5% p.a.
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Answer:
Step-by-step explanation:
Given - principal = 15000
T = 2
R = 5%
A = p x (1 + r/100)^n
= 15000 x (1 + 5/100)^2
= 15000x (1+ 1/20)^2
= 15000 x (21/20)^2
= 15000 x 441/400
= 37. 5 x 441
= 16537.5
C.I = A - P
= 16537.5 - 15000
= 1537.5
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