Question

find the compound interest at 4% P A for 3 years on the principle which gives the simple interest of 2400 at the same rate and for the same time

Answer 1

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

Answer 2

$your \: answer$


 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



$thanks$