Question

Find the compound interest at 4% p.a. for 3 years on the principal which gives the simple interest of 2400
at the same rate and for the same time.

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Answer 1

Answer:

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Answer 2

Step-by-step explanation:

ˢⁱᵐᵖˡᵉ ⁱⁿᵗᵉʳᵉˢᵗ ᶠᵒʳᵐᵘˡᵃ :

ⁱⁿᵗᵉʳᵉˢᵗ = ᵖʳⁱⁿᶜⁱᵖˡᵉ × ʳᵃᵗᵉ × ᵗⁱᵐᵉ

ⁱⁿᵗᵉʳᵉˢᵗ = ᵖ × ⓪.⓪④ × ③

②④⓪⓪ = ⓪.①②ᵖ

ᵖ = ②④⓪⓪/⓪.①②

ᵖ = ②⓪⓪⓪⓪

ᵗʰᵉ ᶜᵒᵐᵖᵒᵘⁿᵈ ⁱⁿᵗᵉʳᵉˢᵗ ᵃᶜᶜᵘᵐᵘˡᵃᵗⁱᵒⁿ ᶠᵒʳᵐᵘˡᵃ :

ᵖ(① + ⁱ)ⁿ = ᵃᶜᶜᵘᵐᵘˡᵃᵗⁱᵒⁿ

②⓪⓪⓪⓪ × (①.⓪④)³ = ②⓪⓪⓪⓪ × ①.①②④⑧⑥④ = ②②④⑨⑦.②⑧

ᵃᵐᵒᵘⁿᵗ = ②②④⑨⑦.②⑧

ʳˢ ②②④⑨⑦.②⑧

REFER to the attachment

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