Question

14. The simple interest on a sum of money for3 years at 20/3 per annum is 6750. What will be the compound interest on the same sum at the same rate for the same period, compounded annually?​

Answer 1

Answer:

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Step-by-step explanation:

The simple interest on a sum of money for 3 years at 6²/₃ % per annum is $ 6750. What will be the compound interest on the same sum at the same rate for the same period, compounded annually? Solution: Given, SI = $ 6750, R = 203% p.a. and T = 3 years