find the compound interest on Rupees 1500 for 4 years at 4% per annum
Answers
Answered by
1
Answer:
Formula: A=P(1+
100
R
)
n
A=1,500(1+
100
5
)
3
A=1,500(
100
105
)
3
A=1,500×
100
105
×
100
105
×
100
105
A=
16
3×21×21×21
A=
16
27,783
A=1,736.40
Compound Interest = Amount Principle
=1,736.40−1,500=236.40
Amount=Rs.1,736.40,
Compound interest =Rs.236.40
Step-by-step explanation:
Answered by
0
Total interest in 4 years is 16% which is ₹15x16 = ₹240
Interest per year is ₹60
And one way is total money 1st year is 1500+60
1560 + 4% of 1560
1560+62.4
1620.4+ 4% of 1620.4 and so on
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