in what time will Rs.15000 yield Rs.4965 as compound interest at 10% p.a., compound annually
Answers
Answered by
5
Answer:
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Step-by-step explanation:
Interest for the first year
=
100
1500×10×1
= Rs 1500
Amount after the first year = Rs 15000+1500
= Rs 16500
Interest for the second year
=
100
16500×10×1
= Rs 1650
Amount after the third year
=
100
18150×10×1
= Rs 1815
Final amount = Rs 18150+1815
= Rs 19965
Compound interest = Rs 19965−15000
= Rs 4965
Required time =3 years
Answered by
1
Answer:
Step-by-step explanation:
Interest for the first year
=
100
1500×10×1
= Rs 1500
Amount after the first year = Rs 15000+1500
= Rs 16500
Interest for the second year
=
100
16500×10×1
= Rs 1650
Amount after the third year
=
100
18150×10×1
= Rs 1815
Final amount = Rs 18150+1815
= Rs 19965
Compound interest = Rs 19965−15000
= Rs 4965
Required time =3 years
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