(i) Find the amount for Rs.15,000 at 8% per annum compounded annually for two
years.
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(i) Find the amount for Rs.15,000 at 8% per annum compounded annually for two
years.
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Correct Question :-
Find the amount & compound interest for ₹15,000 at 8% per annum compounded annually for two years .
Given :-
P = ₹15,000
R = 8%
T = 2 years
To Find :-
The amount and compound interest .
Solution :-
On inserting the values in the formula
We get ,
=> A = 17, 496
Compound Interest = Amount - Principal
= ₹(17496 - 15000)
= ₹ 2496
Therefore, Amount is ₹17,496 and Compound Interest is ₹2496
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