Question

7. Find the compound interest at the rate of 5% per annum for 3 years on that principal which in 3
years at the rate of 5% per annum gives * 1,200 as the simple interest.
1
8. A sum of * 31,250 amounts to * 35,152 in 1 years. Find the rate per annum, interest being
compounded semi-annually.
1
at the rate of 1507
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Answer 1

7 ANSWER

According to the question,

Using the formula CI=P[1+100R]n−P

CI=2400[1+(1005)]3−2400

CI=2,778.3−2400

On solving we get CI=378.3

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