Question

veena deposited rs 3500 with a company at 15% per annum for 2 years at compound interest. Find the interest she received at the end of 2 years.

Answer 1

Principal for the first year = Rs 3,500

Interest for the first year=Rs 3,500 x 15 x( 1/100 )= Rs 525

Amount at the end of the first year = Rs 3,500 + Rs 525 = Rs 4,025

Principle Interest for the second year=Rs 4,025 x 15 x( 1/100) = Rs 603.75

Amount at the end of the second year = Rs 4025+603.75=4,628.75

Compound interest=Rs 4,628.75-3,500=11,128.75

Answer 2

Answer:

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