Find the compound interest at the rate of 5% per.annum for 3 year on that ptincipal which in 3 year are the rate of 5% per.annum gives 1200 as simple interest
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Answer:
P=2400
R=5℅
T=3years
A=P(1+R\100)
A=2400(1+5\100)
A=2400(1+1\20)
A=2400(21\20)
A=2400×21\20×21\20
A= 2646
CI= A-P
CI= 2646-2400
CI= 246
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