Question

5 The simple interest on a sum of money for 2 years at 12% per annum is 1380. Fi
(i) the sum of money.
(ii) the compound interest on this sum for one year payable half-yearly at the same
rate.​

Answer 1

Answer:

i) Sum is = Rs. 5750

ii) CI = Rs 710.7

Step-by-step explanation:

The effective rate of interest for 2 year on SI is => 2*12%= 24 %

Given, 24%= Rs. 1380

1%= 1380/24= Rs 57.5

i) sum => 100%= 57.5* 100= Rs 5750

ii) Rate of interset = 12/2= 6%

Time = 1 year= 2 half yearly

Compound interest =>

1st half yearly= 5750*6%= Rs. 345

2nd half yearly=Rs. 345+ 345*6%= Rs 345 +20.7= Rs. 365.7

Total CI=> 345+365.7= Rs. 710.7

Answer 2

It is given that

Simple Interest (SI) = ₹ 1380

Rate of interest (R) = 12% p.a.

Period (T) = 2 years

(i) We know that

Sum (P) = (SI × 100)/ (R × T)

Substituting the values

= (1380 × 100)/ (12 × 2)

= ₹ 5750

(ii) Here

Principal (P) = ₹ 5750

Rate of interest (R) = 12% p.a. or 6% half-yearly

Period (n) = 1 year – 2 half years

So we get

Amount (A) = P (1 + R/100)n

Substituting the values

= 5750 (1 + 6/100)2

By further calculation

= 5750 × (53/50)2

So we get

= 5750 × 53/50 × 53/50

= ₹ 6460.70

Here

Compound Interest = A – P

Substituting the values

= 6460.70 – 5750

= ₹ 710.70