Question

Find the compound interest on Rs. 15000 for two years at 8% per annum.

Answer 1

HERE IS YOUR ANSWER

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SOLUTION ⤵️

FOR THE FIRST YEAR :

Here,

Principal = Rs. 15,000
Time = 1 Year
Rate of interest = 8% p.a.




$\: \: Simple \: \: interest = \: \frac{ \: P \times R \times T\: }{100} \\ \\ = Rs \frac{15000 \times 1 \times 8}{100} \\ \\ \: Rs \: \: 1200$


: Interest for the first year = Rs. 1200
So,

Amount = P + S.I.
= Rs. 15000 + Rs. 1200
= Rs. 16,200


FOR THE SECOND YEAR:


In the second year, the amount in the first year becomes the principal here.

So we have,

Principal = Rs. 16,200
Time = 1 year
Rate of interest = 8% p.a.


$\: Simple \: \: interest = \: Rs \frac{16200 \times 1 \times 8}{100} \\ \\ = \: \:Rs \: 1296$



So,

Compound Interest for two years

= Rs. 1,200 + Rs. 1,296 = Rs. 2,496


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HOPE IT HELPED!!

Answer 2

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HERE IS THE ANSWER TO YOUR QUESTION!!

SOLUTION ⤵️

FOR THE FIRST YEAR : 

Here, 

Principal = Rs. 15,000

Time = 1 Year 

Rate of interest = 8% p.a.

Simpleinterest=100P×R×T

=Rs10015000×1×8Rs1200 

: Interest for the first year = Rs. 1200

So, 

Amount = P + S.I.

= Rs. 15000 + Rs. 1200

= Rs. 16,200

FOR THE SECOND YEAR:

In the second year, the amount in the first year becomes the principal here. 

So we have, 

Principal = Rs. 16,200

Time = 1 year

Rate of interest = 8% p.a.

Simpleinterest=Rs10016200×1×8

=Rs1296

HOPE IT HELPED!!