Question

A sum of rs. 7500 amounts of 8748 after 2 year at a certain compound interest rate per annum. What will be the simple interest on the same sum for 32/5 year at double the earlier interest rate?

Answer 1

Answer:

Simple interest = Rs. 7680

Step-by-step explanation:

If A be the amount for any sum P compounded at r% per annum for t years, then

A = P (1 + r/100)ᵗ

Given, A = Rs. 8748,

P = Rs. 7500 and

t = 2 years

Then, 8748 = 7500 (1 + r/100)²

or, (1 + r/100)² = 8748/7500

or, (1 + r/100)² = 729/625

or, 1 + r/100 = 27/25

or, r/100 = 27/25 - 1

or, r/100 = 2/25

or, r = 100 * 2/25

or, r = 8

∴ rate of compound interest = 8% p.a.

{ Now we have to find the simple interest for the sum Rs. 7500 for 32/5 years at the rate (2r =) 16% p.a. }

Using the simple interest formula

I = Ptr/100,

where I = interest for sum P at r% p.a. for t years, we get

I = Rs. (7500 * 32/5 * 16)/100

= Rs. 7680

Answer 2

Answer:

hola

Explanation:

answer is 2 years

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