Question

Leena borrowed a sum of 15000 from a fience company to buy an air conditionar. If the of interest is 5%per annum compounded annualy find the compounded interest leena has to pay after 2years.
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Answer 1

Step-by-step explanation:

p= 15000

r = 5%

t = 2yr

compound interest

a = P (. 1. + r / 100 ) ^ years

a=. 15000 ( 1. + 5 /. 100 ) ^ 2

a. =. 15000 ( 21 / 20 ) ^2

a. =. 15000 × 21/ 20 × 21 /20

a. =. 150 × 21/2 × 21/ 2

a =. 37.5 × 441

a =. 16537.5

simple intrest = amount - principle

=. 16537 .5 - 15000

SI = 1537.5

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