Question

Find the compound interest on rupees 16000
for2 years at 15%. p. a
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Answer 1

Step-by-step explanation:

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Answer 2

Given :

• Principal money, P = Rs. 16000
• Time period for Interest, t = 2 yrs
• Rate of interest per Annum, R = 15 %

To find :

• Compound interest, C.I. =?

Formula required :

• Formula to calculate C.I.

$\red{ \bigstar}\boxed{ \sf{C.I. = P \bigg(1 + \dfrac{R}{100} \bigg)^{t} - P}}$

Where,

C.I. = Compound Interest

P = Principal amount

R = Rate of interest per annum

t = Time period

Solution :

Using formula to calculate Compound Interest

$\implies \: \sf{C.I. = P \bigg(1 + \dfrac{R}{100} \bigg)^{t} - P}</p><p>$

$\implies \: \sf{C.I. = 16000 \bigg(1 + \dfrac{15}{100} \bigg)^{2} -16000 }</p><p>$

$\implies \: \sf{C.I. = 16000 \bigg(1 + \dfrac{225}{10000} + \dfrac{30}{100} - 1 \bigg) }</p><p>$

$\implies \: \sf{C.I. = 16000 \bigg(\dfrac{225}{10000} + \dfrac{30}{100} \bigg)}</p><p>$

$\implies \: \sf{C.I. = 16000 \bigg(\dfrac{225 + 3000}{10000} \bigg)}</p><p>$

$\implies \: \sf{C.I. = 16 \bigg(\dfrac{3225}{10} \bigg)}</p><p>$

$\implies \: \underbrace{\overbrace{\boxed{\boxed{ \red{\sf{C.I. =Rs \: \: 5160}}}}}}$

therefore,

• Compound interest would be equal to Rs 5160.