Question

compound interest on a sum for 2 years is 30more than simple intererst at the rate 5percentage amount of sum is
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Answer 1

Answer:

ʜᴇʏ ᴍᴀᴛᴇ!

Step-by-step explanatio

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On Interest being compounded for 2 years and R=5%, A=P(1±R/100)^N

=P(1±5/100)^N

=P×(1.05^2)

=1.1025 P

So, C.I=A-P=1.1025P-P=0.1025P

Given,

C.I= Rs. 246

=0.1025P= Rs. 246

=P= Rs. 2,400

For,

=> P= Rs. 2,400

N=3 years

R=6%

We have S.I=PNR/100

i.e =2400×3×6/100= Rs. 432

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