what will be the compound interest of rupees 18000 for 2 years if the rate of interest is 5% per annum​

Sum=Rs.18000

Time =2 years

Rate of intereast=15%

A=P(1+

100

r

)

n

⇒A=Rs.18000(1+

100

15

)

2

⇒18000×

100

115

×

100

115

⇒Rs.23805

∴ Compound Interest =A−P

=Rs.23805−Rs.18000=Rs.5805