Question

17. If the simple interest on a sum of money at 5% per annum for 3 years is Rs. 1200

then the compound interest on the same sum and for the same period at the same

rate will be?​

Answer 1

Step-by-step explanation:

Clearly, Rate = 5%, Time = 3 years and S.I. = Rs.12000

Sum =Rs.(3×5100×12000)=Rs.80000

Amount =Rs. ⎣⎢⎡80000×(1+1005)3⎦⎥⎤

              =Rs. 92610

We know that C.I. = Amount - Sum

So,

C.I. =92610−80000

      =Rs. 12610