Question

find the compound interest on 15000 3years 4months 6pa​

Answer 1

Compound Interest is Rs 3,212.09.

Step-by-step explanation:

We have to determine the compound interest on a principal of Rs 15,000 after 3 years 4 months at the rate of 6%​ p.a.

Let P = Principal sum of money

    R = Rate of interest

    T = Time period

    A = Amount of money

As we know that the formula for calculating amount in case of compound interest is given by;

                   $\text{Amount}=\text{Principal} \times (1+\text{Rate of interest})^{\text{Time}}$

                                            Or

                              $A=P\times (1+R)^{T}$

                                 

Now, in the question we are provided with P = Rs 15,000 , R = 6% and Time period, T = 3 years 4 months.

Firstly, converting time in years, we get =  $3+\frac{4}{12} =3+0.33 = 3.33 \text{years}$

So,            Amount  =  $15,000\times (1+\frac{6}{100} )^{3.33}$

                                 =  $15,000\times (1+0.06 )^{3.33}$

                                 =  $15,000\times (1.06)^{3.33}$

                                 =  Rs 18,212.09

Hence, amount of money after 3 years is Rs 18,212.09.

Now, Compound Interest is given by;

            Amount  =  Principal + Compound Interest

       Rs 18,212.09  =  Rs 15,000 + Compound Interest

So, Compound interest  =  Rs 18,212.09 - Rs 15,000

                                        =  Rs 3,212.09

Therefore, the compound interest on a principal Rs 15,000 after 3 years 4 months at the rate of 6% p.a.​ is Rs 3,212.09.

Learn more about compound interest questions;

brainly.in/question/2492666