0.04 is multiplied 10 times to get 0.004
4 hundreds equal 400 ones
Answer:
Rs. 1186 is the required answer.
Step by step answer:
Given:
Principle (P)=$1500
Rate of Interest (R)= 6%
Time period (T)=10 years
Compound Interest (CI)=P((1+6/100)^T-1)
=1500((1+6/100)^10-1)
= Rs. 1186 (approximately)
