An amount increases by 40% in 5 years at simple interest. by how much % does it increase in 2 years at the same rate on compound interest?
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1.
Simple Interest Formula:
Simple Interest = Principal * Time * Rate of interest / 100
Abbreviated as
SI = PTR/100
2.Compound Interest Formula:
Amount = Principal * [1 + Rate of Interest/100]Time period
Abbreviated as
Amount = P * [1 + R/100]t,
when compounded annually.
3.When compounded semi-annually or half-yearly,
Amount = P[1 + (R/2)/100]2t
When compounded quarterly,
Amount = P[1 + (R/4)/100]4t
Present worth of Principal P due t years hence is given by:
P/[1+ R/100]t
use these formulas step by step according to you're question and you will get aquirate answer.
hope it will help you.
please mark brainliest
Simple Interest Formula:
Simple Interest = Principal * Time * Rate of interest / 100
Abbreviated as
SI = PTR/100
2.Compound Interest Formula:
Amount = Principal * [1 + Rate of Interest/100]Time period
Abbreviated as
Amount = P * [1 + R/100]t,
when compounded annually.
3.When compounded semi-annually or half-yearly,
Amount = P[1 + (R/2)/100]2t
When compounded quarterly,
Amount = P[1 + (R/4)/100]4t
Present worth of Principal P due t years hence is given by:
P/[1+ R/100]t
use these formulas step by step according to you're question and you will get aquirate answer.
hope it will help you.
please mark brainliest
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