Question

Without using compound interest formula calculate compound interest on: ₹ 15000 for 2 years when the rate of interest for the consecutive years is 8% and 9% p.a. respectively.

please guys send answers without using compound interest formula and I know the answer is ₹2658 but I want the step-by-step explanation from you please guys help me!!

I want the answer last by 17.12.20 ​

Answer 1

Answer:

Compound interest = ₹2658

Step-by-step explanation:

For 1st year,

• P = ₹15,000
• t = 1
• r = 8%

$\implies$ $\sf{ SI={\Large\frac{PTR}{100}}}$

$\implies$ $\sf{SI={\Large\frac{15000×1×8}{100}} }$

$\implies$ $\sf{SI=150× 1 × 8}$

$\implies$ $\sf{SI= 1200 }$

$\implies$ $\sf{ A = P + SI}$

$\implies$ $\sf{ A = 15000 + 1200}$

$\therefore$ $\sf{ A = ₹16200}$

For 2nd year,

• P = ₹16,200
• t = 1
• r = 9%

$\implies$ $\sf{SI={\Large\frac{PTR}{100}} }$

$\implies$ $\sf{SI={\Large\frac{16200×1×9}{100}} }$

$\implies$ $\sf{SI=162 × 1 × 9 }$

$\implies$ $\sf{SI = 1458 }$

$\implies$ $\sf{A=P + SI }$

$\implies$ $\sf{A=16200 + 1458 }$

$\therefore$ $\sf{ A = 17658}$

$\implies$ $\sf{CI= A - P }$

$\implies$ $\sf{CI = 17658 - 15000 }$

$\therefore$ $\boxed{\sf{ CI = ₹ 2658 }}$

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