Question

Without using the formula of compound interest ,find compound interest and amount of the following. a) Principal =₹20000 Rate = 8% per annum ,Time =3years b) Principal =₹10000 ,rate= 5% ,time= 2 years​

Answer 1

Answer:

interest 15% per annum for 2 years. Find the simple interest on this sum and the amount to be paid at the end of 2 years.

Solution :

On Rs 100, interest charged for 1 year is Rs 15.

So, on Rs 10,000, interest charged = «math x

Interest for 2 years = «mat

Amount to be paid at the end of 2 years = Principal + Interest