Question

18. The simple interest on a certain sum for 2 years at
12% per annum is 2100. Find the corresponding
compound interest.​

Answer 1

Let principal value be x
A = p(1+ 0.01r)^2
A = x(1+ 0.01*12)^2
A = x(1.12)^2
A = x *1.2544

I = A - P
2100 = 1.2544x -x
2100 = 0.2544x
X = 2100/ 0.2544
X = 8254.72

Answer 2

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