Question

3. What sum of money will produce the same compound interest in 2 years at 5% per annum as ? 943 produces
in 10 years at 5% rate of simple interest?​

Answer 1

Answer:

For ,

N=10years

R=5 %

P=Rs9,430

We have S.I.=

100

PNR

=

100

9,430×10×5

=Rs4,715

And on interest being compounded for 2 years and R=5 %, Amount=P(1+

100

R

)

N

=P(1+

100

5

)

2

=P×(

20

21

2

)=

400

441P

So, C.I.=A−P=

400

441P

−P=

400

41P

Given, C.I.=S.I.

=>

400

41P

=Rs4,715

=>P=Rs46,000

Step-by-step explanation:

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