Find the compound interest at 5% per annum for 3 years on the principle which gives simple interest of 2400 at same rate and for same time.
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Rate(R)=5% Time(T)= 3 years SI= 2400
Using SI= (PRT)/100
P=SI×100/(R×T)
P=2400×100(5×3)
P=800×20
P=16000
To find CI=A-P
we use A=P(1+r/100)ⁿ where n is time
A= 16000(1+5/100)³
=16000(1+1/20)³
=(16000/20*20*20) ×(25)³
=2×625×25
50×625
=31250
CI=31250-16000
=15250
IF THIS IS HELPFUL PLEASE COMMENT.
Using SI= (PRT)/100
P=SI×100/(R×T)
P=2400×100(5×3)
P=800×20
P=16000
To find CI=A-P
we use A=P(1+r/100)ⁿ where n is time
A= 16000(1+5/100)³
=16000(1+1/20)³
=(16000/20*20*20) ×(25)³
=2×625×25
50×625
=31250
CI=31250-16000
=15250
IF THIS IS HELPFUL PLEASE COMMENT.
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