Calculate the amount and the compound interest on Rs.15000 for 2 years and 4 months at 12% per annum, compounded annually.

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Sophia · Answer

Answer:   ● Explaination -  # Given - P = 15000 Rs. r = 10 % per annum. t = 2 years.  # Solution - Compound interest over sum p is given by formula - CI = P [(1+r)^t - 1] CI = 15000 [(1 + 10/100)^2 - 1] CI = 15000 [(1+0.1)^2 - 1] CI = 15000 [1.1^2 - 1] CI = 15000 [1.21 - 1] ...  CI = 3150 Rs. Therefore, compound interest is 3150 Rs.

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