.a certain sum is lent
for 3 years at 16⅔ a compound interest for the third year is 24.50 then what will be the simple interest of 5 years
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Answer:
the answer is 40.84
Step-by-step explanation:
interest = sum ×time ×rate ÷ 100
24.50 = Sum ×3× 16 2/3 ÷ 100
24.50 = sum × 3 × 50/3 ÷100
24.40 = sum × 50 ÷100
24.50 = sum ÷2
24.50 ×2 = sum
49 = sum
the sum is 49
interest = sum × time ×rate ÷100
interest = 49 × 5 ×16 2/3 ÷100
interest = 49 × 5 × 50/3 ÷100
interest = 49×5×50 ÷ 3×100
interest = 12250 ÷ 300
interest = 40.83333
interest = 40.84 (ap. )
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