Question

find the compound interest on a principal which yield 10000 as a simple interest in 5 years at the rate of 10% per annum find the compound interest for 2 years at the same rate

Answer 1

Answer:

4,200

Step-by-step explanation:

Simple interest for 5 years.

SI = (p*r*t)/100

10,000=(p*10*5)/100

p= 20,000

now, Compound interest for 2 years at the same rate.

A=P{1+(r/100)}^t

A=24,200

Therefore, CI= A-P

CI= 24,200-20,000

=4,200

Answer 2

Answer:

Step-by-step explanation: