find the compound interest on ₹15000 for 2 years at 5%
Answers
Answered by
1
Answer:
Step-by-step explanation:
● Explaination -
# Given - P = 15000 Rs. r = 10 % per annum. t = 2 years.
# Solution - Compound interest over sum p is given by formula - CI = P [(1+r)^t - 1] CI = 15000 [(1 + 10/100)^2 - 1] CI = 15000 [(1+0.1)^2 - 1] CI = 15000 [1.1^2 - 1] CI = 15000 [1.21 - 1] ...
CI = 3150 Rs. Therefore, compound interest is 3150 Rs.
Similar questions