Question

2. For how many years a person will have to pay the compound interest of 40.80 on 500 at 4% per annum

Answer 1

Answer:

ans is x

Step-by-step explanation:

x is ans and I czv

Answer 2

Compound interest =40.80 rupees

N=2 years

Simple interest =40 rupees N=2 years

What Is the sum?

Simple interest I = P NR /100

Compound interest = A ( p+ r/100)^n

Difference in interest = 40.80 -40= 0.80

Intrests amount for first year for S I and C I are same

Interest for 1 year = simple interest 20rupees

Com.pound interest =20rupees

2nd year principal amount of S I = pA + interest amount of the previous year (20rupees)

2nd year principal amount C I = 1st year P A + interest of the previous year =(20.)

Interest rate for 1 year = 0.80./ 20 ×100

=80/100 ×1/20 ×100 =4 %

Calculation of Principal amount:

Interest =40rupees

No of years =2

Interest rate 4%

P=?

40 =P×2 × 4/100

P= 40×100/8 =500

Principal amount = =500rupees

Verification

Simple intrest

I =500×2 ×4/100 =40 rupees

Compound interest

Compound Amount( A) = P(1+r/100)^n

=500 (1+4/100)^2 = 500 × 26/25 ×26/25

= 540.80 ps

COMPOUND INTERST = A --P = 540.80 --500 = 40.80