the compound interest on rs. 15000 at 10% per annum for a certain time is r.s 4965. calculate the time period​

the compound interest on rs. 15000 at 10% per annum for a certain time is r.s 4965. calculate the time period​

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Kaylee

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  1. 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

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