Question

Find the ci at the rate of 10% p.a. for four years on the principal which in four years at the rate of 4%p.a. gives rs1600 as si

Answer 1

Answer:

$si = \frac{pnr}{100}$

$1600 = p \times 4 \times \frac{4}{100}$

P = Rs. 10000

For CI Compounded annually,

$amount = p (1 + \frac{r}{100} )^{n}$

$amount \: = 10000 \times {(1 + \frac{10}{100} )}^{4}$

Amount = Rs. 14641

CI = 14641 - 10000 = Rs. 4641

CI = Rs. 4641