Question

a certain sum of money invested for 5 years at 8% per annum simple interest of 12000 find the sum of money and the compound interest earned by this money in two years at 10% per annum compound interest .

Answer 1

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As per condition 1 ――――

Principal = 12000

Rate = 8%

Time = 5years

Simple Internet = ?

We know simple internet =

$\frac{p \times t \times r}{100}$

Now by formula,

Simple Interest =>

$= \frac{12000 \times 5 \times 8}{100}$

$= \frac{480000}{100}$

$= 4800$

So as per condition 1 the answer is Rs. 4800

Now condition 2 ――――

Principal = 12000

Time = 2years

Rate = 10%

Compound Interest = ?

We know compound interest =>

$= p{(1 + \frac{r}{100} ) ^{n} - 1}$

Now by formula ...

$= 12000{(1 + \frac{10}{100} ) ^{2} - 1}$

$= 12000{(1 + 0.1) ^{2} - 1}$

$= 12000{(1.1) ^{2} - 1}$

$= 12000(1.21 - 1)$

$= 12000 \times 0.21$

$= 2520$

So as per the condition 2 the answer is Rs. 2520

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