Question

Find the compound interest on Rs.$500$ for $1\frac{1}{2}$ years at $12\%$ per annum.

Answer 1

Principal $=Rs.500$
Time $=1.5$ years
Rate of interest $=12\%$ per annum
$A=P{(1+\frac{R}{100})}^T$
$A=500(1+\frac{12}{100}{)}^{1.5}$
$A=500\times 1.185=592.64$
Thus, $Interest=A-CP=592.64-500=Rs.92.64$