Question

11. If the compound interest on a
sum for 2 years at 3% be *730.80.
What would be the simple interest?
(1) * 700 (2) * 705
(3) * 710
(4) * 720​

Answer 1

Answer:

Let the sum of money be

′

x

′

.

T=2 years

C.I=2700. , Rate=R

A=P(1+

100

R

)

2

⇒

(x+2700)=x(1+

100

R

)

2

⟶(I)

Now,

S.I=2500

⇒2500=

100

x×R×2

⇒

xR=125000

⇒

R=

x

125000

→(II)

Putting

′

x

′

in eq (I)

(

R

125000

+2700)=

R

125000

(1+

100

R

)

2

⇒(

R

125000+2700R

)=

R

125000

(1+

100

R

)

2

⇒(125000+2700R)=125000(1+

100

R

)

2

⇒1250+27R=1250(1+

100

R

)

2

⇒1250+27R=1250(1+2(0.0R)+(0.0R)

2

)

⇒1250+27R=1250+25R+0.125R

2

⇒0.125R

2

−2R=0

⇒R(0.125R−2)=0

⇒R=0 or 0.125R−2=0

But R can't be 0.

∴0.125R−2=0

⇒R=

0.125

2

=16

∴

R=16

%

Answer 2

Answer:

When the compound interest on a sum for 2 years at rate 3% be 730.80, then the simple interest is equal to 720.

Therefore, option (4) is correct.

Step-by-step explanation:

Given, compound interest = 730.80

The time, T = 2 years

Rate per annum, R = 3%

Compound Interest is when the sum principal amount overtakes  the due date for payment for a period of time along with the rate of interest.

We know that formula of compound interest:-

Compound interest $=P[1+\frac{R}{100} ]^T-P$

$730.80 = P[1+\frac{3}{100} ]^2-P$

$730.80 =P(1.03)^2-P$

$730.80= 1.0609P-P$

$P=\frac{730.80}{0.0609}$

$P=12000$

Simple Interest is the sum paid back for the borrowed money, over a definite period of time.

The formula that is used to determine the simple interest:-

Simple interest $=\frac{P\times R\times T}{100}$

Simple interest $=\frac{12000\times 2\times 3}{100} = 720$

Therefore, the simple interest is equal to 720.

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