Question

14. The simple interest on a sum of money for
3
years at 6% per annum is 7 6750. What was
be the compound interest on the same suma
the same rate for the same period, compounded
annually?
12
1.1d uns born
che 1​

Answer 1

Answer:

SI = r×p×t/100

SI = 6×3× 76750/100

SI = 13815

amount = p + si

= 76750 + 13815 =89935

CI = 89935 ×3× 6/100

= 16 188.3

Answer 2

Correct question:-

The simple interest on a sum of money for 3 years at 6% per annum is Rs. 76750. What would be the compound interest on the same sum at same rate for the same period, compounded anually?

Given:-

• $\sf{SI = Rs.76750}$
• $\sf{T = 3\:years}$
• $\sf{R = 6\% p.a.}$

Solution:-

We know,

$\sf{P = \dfrac{SI \times 100}{R \times T}}$

= $\sf{P = \dfrac{76750\times100}{6 \times 3}}$

= $\sf{P = \dfrac{7675000}{18}}$

= $\sf{P = Rs.426388.9}$

Now,

We have,

$\sf{P = Rs.426388.9}$

$\sf{R = 6\% p.a.}$

$\sf{T = 3\: years}$

$\sf{A = P{\bigg(1 + \dfrac{r}{100}\bigg)}^{T}}$

= $\sf{A = 426388.9{\bigg(1 + \dfrac{6}{100}\bigg)}^{3}}$

= $\sf{A = 426388.9{\bigg(\dfrac{106}{100}\bigg)}^{3}}$

= $\sf{A = 426388.9\times\dfrac{106}{100}\times\dfrac{106}{100}\times\dfrac{106}{100}}$

= $\sf{A = \dfrac{4790343880.4}{10000}}$

= $\sf{A = Rs. 479034.38804}$

=> $\sf{A = Rs.479034.39}$

= $\sf{CI = A - P}$

= $\sf{CI = 479034.39 - 426388.9}$

= $\sf{CI = Rs.52645.49}$

$\sf{\therefore The\:CI\:would\:be\:52645.49}$

From the solution:-

• P = Principal
• T = Time
• R = Rate
• SI = Simple Interest
• CI = Compound Interest