What is the compound interest paid on a sum of Rs.1500 for the period of 2 years at 10% per annum.

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What is the compound interest paid on a sum of $ for the period of years at % per annum.

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Calculated Answer

315

Step by Step Solution

In order to solve problem, you must evaluate n₀ * n₂ / 100 + 1^n₁ - n₀.

• n₀ * n₂ / 100 + 1^n₁ - n₀

• Evaluate n₂ / 100 = 0.1

  n₀ * 0.1 + 1^n₁ - n₀

• Evaluate 0.1 + 1 = 1.1

  n₀ * 1.1^n₁ - n₀

• Evaluate 1.1^n₁ = 1.21

  n₀ * 1.21 - n₀

• Evaluate n₀ * 1.21 = 1815

  1815 - n₀

• Evaluate 1815 - n₀ = 315

  315
• The answer to the problem and the result of n₀ * n₂ / 100 + 1^n₁ - n₀ is 315