Question

Find the amount for rs 15000 at 8% per annum compounded annually for two years.

Answer 1

Hope this will help you

Answer 2

Hello

Principle = rs 15000

Rate = 8 % per annum compounded anually

Time =2 years

Amount =??

So,
By the compound interest formula

Amount is equal to
$a = p {(1 + \frac{r}{100}) }^{n}$
Where,
P is the principle, r is rate of interest and n is the time period.

So,
Putting the given values in the formula we get.

$a = 15000 {(1 + \frac{8}{100} )}^{2} \\ \\ a = 1500 {( \frac{27}{25} )}^{2} \\ = 15000 \times \frac{27}{25} \times \frac{27}{25} \\ \\ = 600 \times 27 \times \frac{27}{25} \\ = 24 \times 27 \times 27 \\ = 17496$
So

The amount is equal to rs 17496

Hope this will be helping you...