Question

compound interest compounded annually on a certain sum of money for 2 years at 4% per annum is Rs. 102. the simple interest on the same sum for the same rate and for the same period will be​

Answer 1

Step-by-step explanation:

4%=1/25

Let p=625

Ci 1st yr=25%of625=25

Ci 2nd yr=25+25%of25=25+1=26

Total ci=25+26=51

51=102(given)

1=2

Principal=2×625=1250

Si=4%×2=8%

8%of1250=100

Answer 2

The simple interest is Rs. 100.

Step-by-step explanation:

Since we have given that

Time = 2 years

Rate of interest = 4% p.a.

Interest = Rs. 102

So, it becomes,

$I=P[(1+\dfrac{r}{100})^n-1]\\\\102=P[(1+\dfrac{4}{100})^2-1]\\\\102=P[(1+0.04)^2-1]\\\\102=P[1.04^2-1]\\\\102=P[0.0816]\\\\\dfrac{102}{0.0816}=P\\\\1250=P$

Now, we have to find the simple interest on same sum for same rate and period,

So, it becomes,

$SI=\dfrac{1250\times 2\times 4}{100}\\\\SI=100$

Hence, the simple interest is Rs. 100.

# learn more:

If simple interest on a sum of money for 1 year is Rs 50 and compound interest for 2 years is Rs 102.Then calculate the sum of money and rate of interest pe annum

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