Question

find CI and SI of rupees 600 for 2 years at a rate of 5 %​

Answer 1

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Principal = Rs 600

Time = 2 years

Rate = 5%

Simple Interest

S.I = P×R×T/100

S.I = 600 × 5 × 2 / 100

S.I = Rs 60

Amount = S.I + Principal

Amount = Rs(60 + 600)

Amount = Rs 660

Compound Interest

Amount - Principal

Rs 660 - Rs 600

Rs 60

Answer 2

Simple Interest

= 5÷100 x 600 = Rs 30, 2 years = 30 x 2 = Rs 60 , 60 + 600 = Rs 660

Total interest = 660 - 600 = Rs 60

Compound Interest =

1st year = 5÷100 x 600 = Rs 30 , 600 + 30 = Rs 630

2nd year  = 5÷100 x 630 = Rs 31.5, 630 + 31.5 = Rs 661.50

Therefore, Compounded interest = CI - Principal = 661.5 - 600 = Rs 61.5