Find the compound interest on rs 7200 at 7 1/2 percent perannum for 2 years
Answers
Answered by
0
Step-by-step explanation:
Correct option is
A
10%
Simple Interest SI=
100
PNR
So, SI=
100
7200×2×R
=Rs144R
When interest is compounded, Amount A=P(1+
100
R
)
n
So, A =7200×(1+
100
R
)
2
=Rs7200×(1+
10000
R
2
+
100
2R
)=Rs7200+Rs0.72R
2
+Rs144R
And CI=A−P=Rs0.72R
2
+Rs144R
Si, difference CI−SI=Rs0.72R
2
+Rs144R−Rs144R=Rs72
0.72R
2
=72
R
2
=100
So, R=10 %
Similar questions