Find the compound interest on Rs 18000 for 2 years at the rate 15
1/2
% per annum compounded
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Answer:
Step by step explanation:
Sum=Rs.18000
Sum=Rs.18000Time =2 years
Sum=Rs.18000Time =2 yearsRate of intereast=15%
A=P(1+ r/100)^ n
⇒A=Rs.18000(1+ 15/100)^2
⇒18000× 115/100×115/100
⇒Rs.23805
∴ Compound Interest =A−P
=Rs.23805−Rs.18000
= Rs. 5805
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