Question

Find the compound interest at the rate of 10% p.a for two years on the principal which in four years at the rate of 4% p.a gives ₹ 1600 as simple interest.

Answer 1

Answer:

CI= RS.12100

Step-by-step explanation:

LET PRINCIPAL BE P RS.

$SI =\frac{PRT}{100}\\=1600=\frac{P*4*4}{100}\\ =1600=0.16P\\ =\frac{1600}{0.16}=P\\ = 10000=P$

$CI=P(1+\frac{R}{100}) ^{N} \\= 10000(1+\frac{10}{100})^{2}\\ = 10000(1.1)^{2} \\= 10000*1.21\\=12100$