the compound interest on rs. 15000 at 10% per annum for a certain time is r.s 4965. calculate the time period About the author Kaylee
Answer: Required time =3 years. Interest for the first year =1001500×10×1 = Rs 1500 Amount after the first year = Rs 15000+1500 = Rs 16500 Interest for the second year = 10016500×10×1 = Rs 1650 Amount after the third year = 10018150×10×1 = Rs 1815 Final amount = Rs 18150+1815 = Rs 19965 Compound interest = Rs 19965−15000 = Rs 4965 Required time =3 years Reply
Answer:
Required time =3 years.
Interest for the first year
=1001500×10×1
= Rs 1500
Amount after the first year = Rs 15000+1500
= Rs 16500
Interest for the second year
= 10016500×10×1
= Rs 1650
Amount after the third year
= 10018150×10×1
= Rs 1815
Final amount = Rs 18150+1815
= Rs 19965
Compound interest = Rs 19965−15000
= Rs 4965
Required time =3 years