Question

1) Find the compound interest at the rate of 16% per annum for 2 years on a certain
sum of money, which gives rs. 2400 simple
interest in 4 years at the rate of 6% per
annum.

2) The difference between the compound interest and simple interest on a certain
sum at 15% per annum for 2 years is rs.45. Find the sum.​

Answer 1

Answer:

4416 , 2000

Step-by-step explanation:

1) 2400 = 0.06 * 4S , S = 2400/0.24 = 10000

first year interest = 0.16*10000 = 1600

second year interest = 0.16*17600 = 2816

the compound interest = 1600 + 2816 = 4416

2) compound interest = {P (1 + i)^n] – P } = P(1.15)^2 - P = 0.3225P

simple interest = 0.3p

difference = 0.0225P = 45

P = 2000