30,000 is invested for some period at 8% p.a. to earn 2400 as the simple interest. If th
same sum is invested for the same period at the same rate of interest compounde
half-yearly, find the compound interest.
Answers
Answered by
6
Answer:
The compound interest is 2400.
Step-by-step explanation:
In simple Interest I=prt/100
t=100I/pr=(2400×100)/(30000×8)=1 year
In compound interest
I=p(1+ r/100)^t – p =30000(1+8/100)¹ - 30000
=2400
[ p=principal, I =interest, t=time, r=rate of interest ]
PLEASE MARK AS BRAINLIEST ANSWER DON'T FORGET TO PRESS ON THANKS IF YOU FIND IT HELPFUL
Similar questions