Question

A bank lent Rs. X to a farmer at 50/3% p.a for 1 year73 days. How much Compound interest the farmer had to pay if the Simple interest for the first year is Rs. 3000? The values of Compound Interest and Sum lent are given in the options; choose the option which correctly states the above question.

Answer 1

Answer:

sorry I didn't know about it

sorry

sorry

Answer 2

Step-by-step explanation:

50/3%=1/6

p=Principal

1/6*p=3000

P=18,000

for 1 year,

compound intrest is,

1/6*18000=3000

Amount=18,000+3000=21,000

73 days=365/5

So, rate must be divided by 5 and Time multiplied by 5 to count compound interest.

1/30*21000=700

Total interest=3000+700=3700

X=18,000

CI=3700