Question

find the amount for rupees 15000 at 8% per annum compound annually for 2 years

Answer 1

Principal = 15000

Interest = 8 %

Time = 2 years .


$Amount =p (1 + \dfrac{r}{100} ) ^{2}$


$Amount \: = 15000(1 + \dfrac{8}{100}) ^{2}$


$Amount = 15000( \dfrac{108}{100} )^{2}$


$Amount = 15000(1.08) ^{2}$


$Amount = 15000(1.1664)$


$Amount = 17496$