Question

Find the amount that Madhuri would receive if she invest 15000 for 18 months at 8% per annum compounded annually

Answer 1

$p = 1500 \\ t= 18monts \: = \frac{18}{12} \\ \: r = 8\% \\ si = \frac{p \times r \times t}{100} = \frac{1500 \times 18 \times 8}{100 \times 12 } \\ \frac{15 \times 18 \times 8}{1 \times 12} \\ = \frac{2160}{12} = 180 \\ si = 180 \\ amount = principal + si \\ = 1500 + 180 \\ = 1680$

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