Infosys Company Numerical Ability Simple & Compound Interest

Find the compound interest of Rs 1000. At the rate of 5% p.a. for 15 years….

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compound interest is calculated by P(1+R/100)^n where P-principal amount,R-rate of interest per annum n-years
so 1000(1+(5/100))^15 is Rs.2078.93
Rs.2078.93 is the answer
13 years agoHelpfull: Yes(2) No(6)

Amount=P(1+R/100)^n
Amount=1000(1+(5/100))^15 is equal to 2078.93
Compound Interest=Amount-Principal that is 2078.93-1000=Rs1078.93
6 years agoHelpfull: Yes(0) No(0)

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