Question

Find the compound interest for the following,using the first principles ₹ 10000 at 15 % p.a. for 3 years​

Answer 1

Corrosion is a natural process that converts a refined metal into a more chemically stable form such as oxide, hydroxide, carbonate or sulfide. It is the gradual destruction of materials by chemical and/or electrochemical reaction with their environment.

Answer 2

Answer:

for first year

P=10000,R=8.5%, T=1

Interest = 100PRT=100upon(10000×8.5×1)

​=850

Amount = Interest + Principle =10000+850=Rs.10850

For second year principle will be amount of previous year (since interest is compounded)

P=10850,R=8.5%, T=3months = 12upon3​

years=0.25years

Interest =100PRT=100upon(10850×8.5×0.25)

Interest =100PRT=100upon(10850×8.5×0.25)

=Rs.230.5625

Total interest =850+230.5625=Rs.1080.5625

∴  Compound interest paid after 1 year and 3months is Rs.1080.5625..

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Step-by-step explanation: