find the compound interest at 5% per annum for 3 years on principal which gives simple interest of rupees 2,400 same rate and for the same time
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Answer:
p=2400
r=5%
t=3yrs
ci=p(r/100)-1)^3
=2400(5/100)-1)^3
=2400(1/20)-1)^3
=2400(19/20)^3
=2400×6859/4000
=3×6859/5
=20577/5
=4115.4
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